The Social Protection Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely claiming it gets rid of federal earnings taxes on most retirees’ Added benefits.
It does so by giving an enhanced deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can keep much more of what they earned.
Social Security remains committed to delivering timely, correct facts to the public and will continue on working closely with federal associates to ensure beneficiaries know how this laws may perhaps affect them.
Consequently, the additional $6000 deduction and no taxes on SS implies Completely nothing at all to us. We've been coping with the higher prices but have been given nothing Together with the passage from the BBB.
July twelve, 2025 3:20PM So in essence, due to the fact I’m forty three and receive SSDI this bill modifications nothing for me even though I labored Lengthy Challenging hrs to earn the very little little bit of money which i do get… due to the fact between my partner And that i, we do make underneath $150k a year, but nonetheless adequate that Section of mine is considered “taxable “
July eleven, 2025 two:45PM I have noticed a big difference in just how info is presented by SSA. I see no precise facts on how this affects me for the long run. I'm 73 now and would like to see our Added benefits not taxed. Nonetheless, it’s a “I’ll imagine it Once i see it” posting.
The brand new legislation includes a provision that eradicates federal cash flow taxes on Social Security benefits for some beneficiaries, giving relief to folks and couples.
The bill makes sure that practically ninety% of Social Safety beneficiaries will no more pay out federal earnings taxes on their Advantages, delivering significant and immediate reduction to seniors who have invested a lifetime contributing to our country’s overall economy.
By appreciably minimizing the tax stress on Gains, this legislation reaffirms President Trump’s guarantee to shield Social Stability and allows make sure seniors can improved benefit from the retirement they’ve gained.”
July 13, 2025 six:13PM For those who and/or your partner worked tricky for decades and the government took deductions for SS then Of course, a citizen warrants the payments they promised you in retirement. Also terrible that a lot of citizens game the system and acquire more than they must be entitled to receive.
July 12, 2025 8:50PM You happen to be 1 that can reward. Talk to your tax man or woman- but as I understand it, you may post a fresh withholding type to acquire significantly less taken out website OR you'll be able to declare the click here $6k at tax time. I’m not a professional but that’s how I browse it.
There is not any adjust inside the taxability of social stability benefits. The Invoice only presents A short lived reward deduction of $6k for seniors sixty five+ and only earning underneath $75k if Single or $150k if married.
July fifteen, 2025 eight:04AM I receive a modest pension together with my social security month to month. I've a little financial investment account. If I pull income out, it causes my income to move the revenue Restrict and my SSI is taxed. Will this continue to be the case?
July ten, 2025 6:24PM How is anybody designed to rely on this Administration’s postings when they social locker plugin are fundamentally biased and downright misleading? Like Other people putting up on here, this is absolutely nothing but gaslighting and fanfare. The points espoused are spurious to state the least.
The facts? The newly signed law is projected to even further to weaken the Social Protection system and its earnings. The SSA’s assertion is often a blatant lie and falsely misrepresents the bill that was signed into law, and its hurt to retirees.
Folks declaring social safety Advantages that are under sixty five or previously mentioned All those earning thresholds will see no tax profit.