The Social Protection Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely saying it gets rid of federal income taxes on most retirees’ Added benefits.
It does so by giving an Improved deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can continue to keep more of whatever they acquired.
Social Protection remains committed to furnishing well timed, accurate info to the general public and will carry on working intently with federal partners to guarantee beneficiaries understand how this legislation may well impact them.
As a result, the additional $6000 deduction and no taxes on SS indicates Unquestionably almost nothing to us. We're dealing with the higher prices but have acquired nothing Along with the passage in the BBB.
July twelve, 2025 3:20PM So in essence, because I’m 43 and receive SSDI this Monthly bill variations very little for me While I worked Extended Really hard hours to receive the small bit of money that I do get… for the reason that in between my husband and I, we do make beneath $150k a calendar year, but still ample that Section of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've discovered a change in just how data is offered by SSA. I see no precise facts on how this influences me for the long run. I am seventy three now and would like to see our Added benefits not taxed. Having said that, it’s a “I’ll believe it After i see it” report.
The new regulation features a provision that removes federal earnings taxes on Social Security Rewards for most beneficiaries, providing aid to people today and partners.
The Invoice ensures that nearly ninety% of Social Safety beneficiaries will no longer pay federal income taxes on their own Added benefits, giving meaningful and speedy reduction to seniors that have used a lifetime contributing to our nation’s overall economy.
By significantly minimizing the tax load on Rewards, this legislation reaffirms President Trump’s guarantee to shield Social Security and can help make certain that seniors can much better benefit from the retirement they’ve gained.”
July 13, 2025 6:13PM If you and/or your partner labored hard for decades and The federal government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Also terrible that numerous citizens activity the method and just take greater than they should be entitled to obtain.
July twelve, 2025 eight:50PM That you are a single that may gain. Talk to your tax person- but as I comprehend it, you'll be able to post a different withholding variety to have much less taken out OR you'll be able to declare the $6k at tax time. I’m not an authority but that’s how I read through it.
There is not any improve from the taxability of social stability Added benefits. The Invoice only provides A brief bonus deduction of $6k for seniors sixty five+ and only earning below $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I get a modest pension as well as my social safety month-to-month. I've a small financial investment account. If I pull income out, it brings about my revenue to go the cash flow Restrict and my SSI is taxed. Will this however be the case?
July ten, 2025 6:24PM How is everyone purported to believe in this Administration’s postings when they're fundamentally website biased and downright deceptive? Like Other people publishing on listed here, this is almost nothing but gaslighting and fanfare. The information read more espoused are spurious to state the the very least.
The info? The newly signed legislation is projected to further more to weaken the Social Safety method and its earnings. The SSA’s statement is usually a blatant lie and falsely misrepresents the bill which was signed into regulation, as well as its damage to retirees.
People declaring social safety Added benefits who will be below 65 or previously mentioned Those people earning thresholds will see no tax benefit.