The Social Safety Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely boasting it eradicates federal revenue taxes on most retirees’ Added benefits.
It does so by supplying an enhanced deduction for taxpayers aged sixty five and older, making sure that retirees can retain additional of whatever they gained.
Social Protection continues to be dedicated to providing well timed, precise details to the general public and can proceed Doing work intently with federal companions to guarantee beneficiaries know how this legislation may influence them.
Hence, the extra $6000 deduction and no taxes on SS means Definitely absolutely nothing to us. We are managing the upper charges but have received almost nothing With all the passage from the BBB.
July twelve, 2025 three:20PM So mainly, because I’m 43 and receive SSDI this bill adjustments very little for me even though I worked Prolonged Challenging several hours to receive the very little little bit of money which i do get… because concerning my husband and I, we do make beneath $150k a calendar year, but nonetheless sufficient that Portion of mine is considered “taxable “
July eleven, 2025 two:45PM I've found a big difference in the way in which information and facts is presented by SSA. I see no unique knowledge on how this impacts me for the long run. I'm seventy three now and would like to see our Added benefits not taxed. Having said that, it’s a “I’ll believe it Once i see it” post.
The new legislation includes a provision that eradicates federal money taxes on Social Security Added benefits for the majority of beneficiaries, supplying aid to persons and partners.
The Invoice makes certain that almost ninety% of Social Security beneficiaries will no longer pay back federal cash flow taxes on their own Added benefits, furnishing significant and instant aid to seniors who definitely have used a life span contributing to our nation’s overall economy.
By significantly lowering the tax load on Gains, this laws reaffirms President Trump’s guarantee to protect Social Protection here and aids make certain that seniors can better enjoy the retirement they’ve acquired.”
July 13, 2025 6:13PM For those who and/or your spouse labored hard for decades and the government took deductions for SS then YES, a citizen deserves the payments they promised you in retirement. Far too terrible that a lot of citizens video game the method and acquire in excess of they ought to be entitled to receive.
July twelve, 2025 eight:50PM You might be a single that could social locker plugin benefit. Check with your tax person- but as I understand it, it is possible to submit a brand new withholding type to acquire a lot less taken out OR it is possible to claim the $6k at tax time. I’m not a specialist but that’s how I go through it.
There's no change while in the taxability of social safety Gains. The Invoice only provides A short lived bonus deduction of $6k for seniors 65+ and only earning down below $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a little pension together with my social protection every month. I've a little investment decision account. If I pull dollars out, it triggers my profits to pass the profits Restrict and my SSI is taxed. Will this continue to be the situation?
July ten, 2025 6:24PM How is any one purported to trust this Administration’s postings get more info when they're basically biased and downright misleading? Like Some others publishing on in this article, This is often nothing at all but gaslighting and fanfare. The information espoused are spurious to say the the very least.
The info? The freshly signed law is projected to additional to weaken the Social Stability method and its income. The SSA’s assertion can be a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, and also its hurt to retirees.
Men and women claiming social safety benefits who're less than 65 or earlier mentioned Those people earning thresholds will see no tax advantage.