The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it removes federal income taxes on most retirees’ Added benefits.
It does so by delivering an Increased deduction for taxpayers aged sixty five and older, ensuring that retirees can hold far more of the things they earned.
Social Security continues to be devoted to furnishing well timed, correct info to the public and may continue on Performing carefully with federal partners to make certain beneficiaries know how this legislation may possibly have an effect on them.
Therefore, the additional $6000 deduction and no taxes on SS indicates Unquestionably almost nothing to us. We have been managing the upper fees but have been given almost nothing While using the passage with the BBB.
July 12, 2025 3:20PM So in essence, due to the fact I’m forty three and obtain SSDI this Invoice modifications almost nothing for me Although I labored LONG Tough hrs to get paid the minor little bit of money which i do get… due to the fact amongst my partner And that i, we do make under $150k a year, but still adequate that Component of mine is considered “taxable “
July eleven, 2025 2:45PM I have found a big difference in the best way information is presented by SSA. I see no particular details on how this impacts me for the long run. I'm seventy three now and would like to see our Gains not taxed. Even so, it’s a “I’ll think it when I see it” article.
The new regulation features a provision that removes federal cash flow taxes on Social Security Advantages for most beneficiaries, furnishing reduction to persons and couples.
The Invoice ensures that almost ninety% of Social Protection beneficiaries will not spend federal earnings taxes on their own Positive aspects, offering meaningful and speedy relief to seniors who may have invested a lifetime contributing to our nation’s economy.
By drastically lessening the tax load on Positive aspects, this legislation reaffirms President Trump’s promise to shield Social Security and can help be sure that seniors can improved enjoy the retirement they’ve earned.”
July thirteen, 2025 6:13PM In the event you and/or your partner labored really hard for decades and the government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Too undesirable that lots of citizens recreation the process and just take greater than they need to be entitled to receive.
July 12, 2025 8:50PM You might be 1 which will reward. Speak to your tax man or woman- but as I understand it, you could submit a fresh withholding form to get significantly less taken out OR you could declare the $6k at tax time. I’m not a professional but that’s website how I go through it.
There is no change within the taxability of social safety Positive aspects. The Invoice only provides A short lived reward deduction of $6k for seniors 65+ and only earning underneath $75k if Single or $150k if married.
July 15, 2025 8:04AM I receive a tiny pension as well as my social protection every month. I have a small investment account. If I pull revenue out, it read more causes my profits to website move the cash flow limit and my SSI is taxed. Will this still be the situation?
July 10, 2025 6:24PM How is everyone alleged to have faith in this Administration’s postings when they are basically biased and downright misleading? Like others publishing on here, This really is nothing at all but gaslighting and fanfare. The info espoused are spurious to convey the minimum.
The points? The recently signed regulation is projected to even more to weaken the Social Security software and its revenue. The SSA’s statement is a blatant lie and falsely misrepresents the Invoice which was signed into legislation, and its hurt to retirees.
Men and women professing social stability Advantages who're less than 65 or over People earning thresholds will see no tax benefit.