The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely professing it gets rid of federal profits taxes on most retirees’ Rewards.
It does so by offering an Increased deduction for taxpayers aged 65 and older, making sure that retirees can continue to keep much more of what they gained.
Social Safety continues to be committed to furnishing timely, precise info to the public and may keep on Operating closely with federal partners to guarantee beneficiaries understand how this legislation may well affect them.
Hence, the additional $6000 deduction and no taxes on SS usually means Completely absolutely nothing to us. We are coping with the higher prices but have received nothing at all Together with the passage in the BBB.
July 12, 2025 3:20PM So mainly, for the reason that I’m 43 and acquire SSDI this Monthly bill modifications practically nothing for me even though I labored Extended Tough hrs to generate the small little bit of money which i do get… due to the fact among my husband And that i, we do make beneath $150k a 12 months, but still adequate that Component of mine is considered “taxable “
July eleven, 2025 2:45PM I have found a big difference in just how info is introduced by SSA. I see no distinct data on how this impacts me for the long term. I'm 73 now and would love to see our Added benefits not taxed. On the other hand, it’s a “I’ll feel it After i see it” post.
The brand new regulation includes a provision that gets rid of federal revenue taxes on Social Protection Gains for most beneficiaries, delivering relief to folks and partners.
The Monthly bill makes sure that approximately 90% of Social Safety beneficiaries will no more pay federal cash flow taxes on their own Gains, supplying meaningful and fast aid to seniors who've put in a life span contributing to our country’s economic climate.
By drastically minimizing the tax load on Added benefits, this laws reaffirms President Trump’s assure to safeguard Social Protection and can help make sure seniors can better enjoy the retirement they’ve earned.”
July thirteen, 2025 six:13PM When you and/or your husband or wife worked tough for decades and The federal government took deductions for SS then Certainly, a citizen warrants the payments they promised you in retirement. Way too bad that so many citizens game the method and consider more than they read more should be entitled to receive.
July twelve, 2025 8:50PM You're one particular that can benefit. Talk to your tax person- but as I know it, you could submit a new withholding sort to acquire significantly less taken out OR you are able to declare the $6k at tax time. I’m not an authority but that’s website how I read it.
There isn't a modify during the taxability of social safety Gains. The bill only gives a temporary reward deduction of $6k for seniors 65+ and only earning down below $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I receive a compact pension as well as my social security regular. I have a small financial commitment account. If I pull funds out, it will cause my earnings to move the earnings Restrict and my SSI is taxed. Will this nevertheless be the situation?
July ten, 2025 six:24PM How is anybody designed to trust this Administration’s postings when they are fundamentally biased and downright misleading? Like Other people putting up on in this article, This really is practically nothing but gaslighting and fanfare. The points espoused are spurious to say the least.
The details? The recently signed legislation is projected to even further to weaken the Social Stability program and its revenue. The SSA’s assertion is a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, together with its damage to retirees.
People today professing social protection Rewards who are beneath 65 or above those earning thresholds will see no tax reward.