The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely declaring it eliminates federal income taxes on most retirees’ Rewards.
It does so by delivering an Improved deduction for taxpayers aged sixty five and older, making certain that retirees can continue to keep extra of whatever they acquired.
Social Safety remains committed to offering timely, accurate information to the general public and can carry on Doing the job carefully with federal partners to be sure beneficiaries understand how this laws could have an impact on them.
For that reason, the additional $6000 deduction and no taxes on SS indicates Completely nothing at all to us. We've been handling the higher prices but have been given nothing at all with the passage of the BBB.
July 12, 2025 three:20PM So essentially, because I’m 43 and acquire SSDI this bill variations absolutely nothing for me Regardless that I labored Extensive Really hard several hours to make the very little little bit of cash that I do get… due to the fact between my husband And that i, we do make underneath $150k a calendar year, but nevertheless ample that part of mine is taken into account “taxable “
July 11, 2025 2:45PM I've discovered a variance in the best way info is introduced by SSA. I see no unique knowledge on how this impacts me for the long run. I'm 73 now and would like to see our Positive aspects not taxed. However, it’s a “I’ll believe that it when I see it” short article.
The new law features a provision that gets rid of federal income taxes on Social Stability Rewards for some beneficiaries, furnishing relief to persons and partners.
The Monthly bill ensures that nearly 90% of Social Safety beneficiaries will not pay back federal money taxes on their Rewards, giving significant and speedy relief to seniors who definitely have used a life span contributing to our nation’s economy.
By noticeably lowering the tax burden on Advantages, this laws reaffirms President Trump’s promise to guard Social Security and will help make sure seniors can better enjoy the retirement they’ve acquired.”
July thirteen, 2025 6:13PM In the event you and/or your wife or husband worked really hard for decades and the website government took deductions for SS then Sure, a citizen warrants the payments they promised you in retirement. Way too poor that numerous citizens activity the program and consider more than they must be entitled to receive.
July 12, 2025 8:50PM You are one particular that can gain. Speak to your tax man or woman- but as I understand it, it is possible to post a different withholding variety to get a lot less taken out OR you are able to declare the $6k at tax time. I’m not an authority but that’s how I read it.
There isn't a improve inside the taxability of social security Positive aspects. The bill only gives a temporary reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I get a small pension together with my social security regular. I've a small expense account. If I pull income out, it leads to my cash flow to go the revenue limit and my SSI is taxed. Will this still be the case?
July 10, 2025 6:24PM read more How is any person imagined to have confidence in this Administration’s postings when they're essentially biased and downright deceptive? Like Many others posting on right here, This is certainly very little but gaslighting and fanfare. The facts espoused are spurious to say the minimum.
The facts? The freshly signed legislation is projected to further more to weaken the Social Stability system and its revenue. The SSA’s statement can be a blatant lie and falsely misrepresents the bill which was signed into law, together with its damage to retirees.
People today boasting social protection check here benefits who're beneath sixty five or over All those earning thresholds will see no tax benefit.