The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it gets rid of federal cash flow taxes on most retirees’ Advantages.
It does so by providing an Improved deduction for taxpayers aged sixty five and more mature, making sure that retirees can preserve extra of what they acquired.
Social Security remains committed to delivering timely, precise information to the general public and may go on Doing work intently with federal partners to be sure beneficiaries know how this legislation may have an impact on them.
For that reason, the additional $6000 deduction and no taxes on SS signifies Definitely practically nothing to us. We've been managing the higher expenditures but have received nothing Using the passage on the BBB.
July 12, 2025 three:20PM So fundamentally, because I’m 43 and acquire SSDI this bill changes nothing at all for me Despite the fact that I worked Very long HARD several hours to get paid the minor little bit of money that I do get… because concerning my partner and I, we do make under $150k a 12 months, but nonetheless plenty of that part of mine is considered “taxable “
July eleven, 2025 two:45PM I have found a big difference in just how information is offered by SSA. I see no certain information on how this influences me for the long run. I'm 73 now and would like to see our Added benefits not taxed. On the other hand, it’s a “I’ll imagine it After i see it” write-up.
The brand new legislation features a provision that eliminates federal profits taxes on Social Security Positive aspects for most beneficiaries, delivering aid to men and women and partners.
The bill ensures more info that virtually 90% of Social Security beneficiaries will not pay back federal revenue taxes on their own benefits, offering significant and instant reduction to seniors who've expended a life span contributing to our nation’s overall economy.
By drastically minimizing the read more tax load on Added benefits, this legislation reaffirms President Trump’s guarantee to shield Social Stability and aids make sure that seniors can greater benefit from the retirement they’ve gained.”
July thirteen, 2025 six:13PM In the event you and/or your partner worked tough for decades and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. As well negative that a great number of citizens activity the procedure and choose more than they must be entitled to get.
July twelve, 2025 eight:50PM You might be one particular that may advantage. Check with your tax particular person- but as I comprehend it, you could submit a completely new withholding kind to acquire much less taken out OR you are able to declare the $6k at tax time. I’m not a professional but that’s how I study it.
There isn't any alter during the taxability of social safety Rewards. The bill only gives A short lived bonus deduction of $6k for seniors 65+ and only earning underneath $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I receive a modest pension in addition to my social security month to month. I've a small financial investment account. If I pull dollars out, it will cause my revenue to go the income limit and my SSI is taxed. Will this still be the case?
July ten, 2025 6:24PM How is any individual supposed to rely on this Administration’s postings when they are basically biased and downright deceptive? Like Other individuals publishing on here, That is very little but gaslighting and fanfare. The information espoused are spurious to convey the the very least.
The information? The recently signed regulation is projected to further to weaken the Social Safety method and its revenue. The SSA’s statement is more info actually a blatant lie and falsely misrepresents the Invoice which was signed into regulation, and its harm to retirees.
Individuals proclaiming social safety Added benefits who will be less than sixty five or above These earning thresholds will see no tax reward.