The Social Safety Administration is spreading misinformation about Trump’s reconciliation bill, falsely boasting it gets rid of federal earnings taxes on most retirees’ Positive aspects.
It does so by furnishing an Improved deduction for taxpayers aged 65 and older, making certain that retirees can maintain much more of the things they acquired.
Social Protection remains committed to supplying well timed, accurate details to the public and may go on Performing carefully with federal partners to make sure beneficiaries understand how this laws may possibly affect them.
Hence, the extra $6000 deduction and no taxes on SS implies Definitely nothing to us. We have been managing the higher charges but have received almost nothing Together with the passage from the BBB.
July twelve, 2025 3:20PM So generally, because I’m 43 and get SSDI this Monthly bill alterations absolutely nothing for me While I worked Very long Really hard several hours to gain the minor little bit of cash that I do get… due to the fact concerning my husband and I, we do make underneath $150k a calendar year, but still ample that part of mine is considered “taxable “
July 11, 2025 2:45PM I have seen a variation in how information and facts is introduced by SSA. I see no particular information on how this influences me for the long run. I am 73 now and would love to see our Added benefits not taxed. However, it’s a “I’ll feel it when I see it” post.
The brand new regulation features a provision that eliminates federal revenue taxes on Social Safety Positive aspects for many beneficiaries, offering aid to persons and partners.
The Invoice makes certain that nearly ninety% of Social Stability beneficiaries will not fork out federal cash flow taxes on their own Positive aspects, supplying significant and fast reduction to seniors that have put in read more a life span contributing to our nation’s economic system.
By significantly minimizing the tax load on benefits, this laws reaffirms President Trump’s guarantee to protect Social Safety and allows be certain that seniors can greater benefit from the retirement they’ve acquired.”
July thirteen, 2025 6:13PM Should you and/or your husband or wife labored tricky for many years and the government took deductions for SS then YES, a citizen warrants read more the payments they promised you in retirement. Too bad that a great number of citizens game the process and just take a lot more than they ought to be entitled to receive.
July 12, 2025 eight:50PM You're one particular that could advantage. Discuss with your tax individual- but as I realize it, you can post a completely new withholding kind to possess a lot less taken out OR you'll be able to claim the $6k at tax time. I’m not a professional but that’s how I read it.
There is no adjust within the taxability of social safety Positive aspects. The bill only gives a temporary reward deduction of $6k for seniors sixty five+ and only earning underneath $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a small pension as well as my social safety month-to-month. I have a little expense account. If I pull funds out, it brings about my earnings to pass the profits Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 6:24PM How is anybody purported to trust this Administration’s postings when they are essentially biased and downright misleading? Like Other people putting up on in this article, This is often nothing but gaslighting and fanfare. The facts espoused are spurious to state the least.
The info? The freshly signed legislation is projected to additional to weaken the Social Safety method and its revenue. The SSA’s assertion can be read more a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, along with its hurt to retirees.
Persons claiming social stability Added benefits who're beneath sixty five or above Those people earning thresholds will see no tax gain.