The Social Security Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely professing it eliminates federal money taxes on most retirees’ Rewards.
It does so by furnishing an Improved deduction for taxpayers aged 65 and more mature, making certain that retirees can continue to keep extra of the things they attained.
Social Protection remains devoted to furnishing well timed, precise details to the public and will keep on Doing the job closely with federal associates to guarantee beneficiaries understand how this legislation could have an impact on them.
Therefore, the extra $6000 deduction and no taxes on SS implies Certainly very little to us. We have been dealing with the upper fees but have gained absolutely nothing with the passage in the BBB.
July 12, 2025 three:20PM So basically, for the reason that I’m forty three and receive SSDI this bill changes almost nothing for me Although I worked Lengthy Tough hrs to earn the small little bit of money which i do get… because between my partner and I, we do make beneath $150k a year, but still ample that part of mine is considered “taxable “
July 11, 2025 two:45PM I have seen a variation in the best way info is offered by SSA. I see no certain facts on how this affects me for the long run. I'm seventy three now and would love to see our benefits not taxed. However, it’s a “I’ll consider it when I see it” write-up.
The brand new law includes a provision that removes federal revenue taxes on Social Security benefits for many beneficiaries, supplying reduction to website folks and partners.
The bill ensures that approximately ninety% of Social Security beneficiaries will now not spend federal earnings taxes on their own benefits, providing meaningful and fast reduction to seniors who have invested a lifetime contributing to our nation’s overall economy.
By considerably decreasing the tax load on Gains, this legislation reaffirms President Trump’s promise to guard Social Stability and will help make sure that seniors can better enjoy the retirement they’ve acquired.”
July 13, 2025 6:13PM In case you and/or your husband or wife worked really hard for many years and the government took deductions for SS then Certainly, a citizen warrants the payments they promised you in retirement. Too lousy that a great number of citizens recreation the method and acquire greater than they must be entitled to get.
July twelve, 2025 eight:50PM You're 1 that will profit. Speak to your tax individual- but as website I realize it, you may submit a new withholding form to have significantly less taken out OR you are able to claim the $6k at tax time. I’m not a professional but that’s how I browse it.
There is absolutely no alter in the taxability of social stability Advantages. The Invoice only gives a temporary bonus deduction of $6k for seniors 65+ and only earning below $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a tiny pension coupled with my social protection regular monthly. I have a small financial investment account. If I pull revenue out, it causes my money to move the money limit and my SSI is taxed. Will this still be the case?
July ten, 2025 six:24PM How is any individual imagined to belief this Administration’s postings when more info they're basically biased and downright misleading? Like Many others putting up on below, this is practically nothing but gaslighting and fanfare. The points espoused are spurious to say the least.
The information? The recently signed law is projected to more to weaken the Social Safety application and its earnings. The SSA’s assertion is often a blatant lie and falsely misrepresents the bill that was signed into law, along with its hurt to retirees.
People today saying social safety Positive aspects who're underneath sixty five or above Those people earning thresholds will see no tax gain.