The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it eradicates federal profits taxes on most retirees’ Positive aspects.
It does so by offering an enhanced deduction for taxpayers aged 65 and more mature, making certain that retirees can maintain extra of whatever they acquired.
Social Safety stays dedicated to supplying timely, accurate facts to the public and may go on Doing work intently with federal associates to make sure beneficiaries know how this legislation may perhaps affect them.
Consequently, the extra $6000 deduction and no taxes on SS suggests Unquestionably nothing at all to us. We have been handling the higher expenses but have acquired nothing at all Together with the passage of the BBB.
July 12, 2025 three:20PM So basically, due to the fact I’m forty three and acquire SSDI this bill modifications practically nothing for me Although I worked Prolonged Difficult hours to gain the tiny little bit of cash that I do get… mainly because concerning my husband And that i, we do make underneath $150k a year, but nonetheless adequate that A part of mine is considered “taxable “
July eleven, 2025 two:45PM I've seen a distinction in the best way info is introduced by SSA. I see no distinct data on how this impacts me for the long term. I am 73 now and would like to see our Added benefits not taxed. Nevertheless, it’s a “I’ll believe it After i see it” post.
The new legislation includes a provision that gets rid of federal earnings taxes on Social Safety Positive aspects for the majority of beneficiaries, furnishing aid to men and women and couples.
The Monthly bill social locker plugin makes certain that just about 90% of Social Security beneficiaries will no longer pay out federal money taxes on their own Added benefits, offering significant and instant relief to seniors who have expended a life time contributing to our nation’s economic climate.
By significantly lessening the tax burden on Added benefits, this legislation reaffirms President Trump’s promise to protect Social Stability and can help make certain that seniors can better take pleasure in the retirement they’ve acquired.”
July 13, 2025 six:13PM If you and/or your husband or wife worked difficult for many years and the government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. Also undesirable that so many citizens recreation the method and get much more than they need to be entitled to obtain.
July twelve, 2025 8:50PM You might be 1 which will advantage. Speak to your tax man or woman- but as I realize it, you'll be able to post a different withholding variety to have a lot less taken out OR you'll be able to assert the $6k at tax time. click here I’m not an expert but that’s how I read through it.
There isn't a transform while in the taxability of social security Added benefits. The Monthly bill only offers A brief reward deduction of $6k for seniors sixty five+ and only earning down below $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I get a tiny pension as well as my social stability month to month. I've a little expense account. If I pull revenue out, it leads to my profits to go the profits limit and my SSI is taxed. Will this nevertheless be the case?
July ten, 2025 6:24PM How is anyone speculated to have faith in this Administration’s postings when they're fundamentally biased and downright deceptive? Like others posting on here, This is often almost nothing but gaslighting and fanfare. The information espoused are spurious to convey the minimum.
The facts? The recently signed legislation is projected to additional to weaken the Social Safety program and its profits. The SSA’s assertion is here usually a blatant lie and falsely misrepresents the Invoice which was signed into law, together with its damage to retirees.
People boasting social protection Positive aspects who are underneath 65 or over Individuals earning thresholds will see no tax benefit.