The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it removes federal income taxes on most retirees’ Positive aspects.
It does so by providing an Improved deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can retain additional of whatever they earned.
Social Protection stays dedicated to supplying timely, accurate facts to the public and will continue on Doing work intently with federal companions to ensure beneficiaries understand how this legislation may perhaps affect them.
Therefore, the additional $6000 deduction and no taxes on SS signifies Unquestionably very little to us. We're addressing the upper prices but have gained practically nothing Together with the passage on the BBB.
July 12, 2025 three:20PM So generally, because I’m 43 and obtain SSDI this bill variations practically nothing for me Regardless that I worked Very long HARD hrs to generate the small little bit of money that I do get… mainly because among my partner and I, we do make underneath $150k a yr, but nevertheless plenty of that Portion of mine is taken into account “taxable “
July eleven, 2025 two:45PM I've discovered a variation in how data is introduced by SSA. I see no particular knowledge on how this influences me for the long term. I'm 73 now and would like to see our Rewards not taxed. Having said that, it’s a “I’ll imagine it After i see it” short article.
The new law includes a provision that gets rid of federal revenue taxes on Social Stability Advantages for most beneficiaries, furnishing reduction to individuals and couples.
The Invoice makes sure that almost ninety% of Social Stability beneficiaries will now not shell out federal money taxes on their benefits, providing meaningful and instant relief to seniors who may have expended a life span contributing to our nation’s overall economy.
By appreciably lessening the tax stress on Gains, this legislation reaffirms President Trump’s assure to shield Social Protection and assists be certain that seniors can far better take pleasure in the retirement they’ve acquired.”
July 13, 2025 six:13PM When you and/or your husband or wife labored tough for many years and The federal government took deductions for SS then Of course, a citizen justifies the payments they promised you in retirement. Way too terrible that numerous citizens activity the method and just take in excess of they ought to be entitled to get.
July 12, 2025 eight:50PM You happen to be 1 that could gain. Check with your tax human being- but as read more I know it, you could submit a completely new withholding kind to obtain a lot less taken out OR you are able to claim the $6k at tax time. I’m not an expert but that’s how I study it.
There is no improve from the taxability of social security Positive aspects. The bill only gives a temporary bonus deduction of $6k for seniors 65+ and only earning below $75k if One or $150k if married.
July 15, 2025 eight:04AM I get a compact pension in addition to my social security regular monthly. here I've a small investment decision account. If I pull cash out, it brings about my cash flow to pass the revenue Restrict and my SSI is taxed. Will this even now be the situation?
July ten, 2025 six:24PM How is any person purported to believe in this Administration’s postings when they are basically biased and downright misleading? Like Many others submitting on below, This is certainly nothing but gaslighting and fanfare. The information espoused are spurious to say the the very least.
The info? The newly signed law is projected to even further to weaken the Social Security software and its profits. The SSA’s statement is actually a blatant lie and falsely misrepresents the bill which was signed into law, and also its harm to retirees.
People today professing social protection Added benefits that are less than 65 or over People earning thresholds will see no tax reward.