The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it eradicates federal profits taxes on most retirees’ benefits.
It does so by furnishing an enhanced deduction for taxpayers aged sixty five and more mature, making certain that retirees can maintain much more of whatever they gained.
Social Security remains devoted to providing well timed, correct facts to the general public and may continue on Operating closely with federal companions to guarantee beneficiaries know how this laws could have an effect on them.
Therefore, the additional $6000 deduction and no taxes on SS usually means absolutely absolutely nothing to us. We're addressing the higher prices but have obtained very little Using the passage with the BBB.
July twelve, 2025 three:20PM So generally, mainly because I’m forty three and obtain SSDI this bill alterations nothing for me Despite the fact that I worked Extensive Really hard hours to get paid the small little bit of money that I do get… since in between my husband And that i, we do make beneath $150k a yr, but still more than enough that Component of mine is considered “taxable “
July 11, 2025 2:45PM I've seen a big difference in the best way information is introduced by SSA. I see no certain knowledge on how this impacts me for the long run. I'm 73 now and would like to see our Advantages not taxed. However, it’s a “I’ll believe that it when I see it” short article.
The new regulation includes a provision that gets rid of federal income taxes on Social Protection Gains for many beneficiaries, furnishing relief to people today and partners.
The Monthly bill makes certain that approximately 90% of Social Safety beneficiaries will now not pay out federal money taxes on their Added benefits, providing meaningful and rapid reduction to seniors who've spent a lifetime contributing to our country’s economy.
By appreciably reducing the tax load on benefits, this laws reaffirms President Trump’s assure to guard Social Safety and aids make sure seniors can much better enjoy the retirement they’ve attained.”
July 13, 2025 six:13PM If you and/or your click here partner labored hard for decades and The federal government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. As well negative that countless citizens match the procedure and acquire in excess of they should be entitled to receive.
July 12, here 2025 8:50PM You might be one particular that should gain. Discuss with your tax man or woman- but as I realize it, you'll be able to submit a new withholding type to possess significantly less taken out OR you are able to assert the $6k at tax time. I’m not a specialist but that’s how I examine it.
There's no modify in the taxability of social security Advantages. The Invoice only offers A short lived bonus deduction of $6k for seniors website sixty five+ and only earning under $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a small pension along with my social security regular monthly. I've a little expenditure account. If I pull money out, it brings about my money to pass the profits Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 6:24PM How is any individual supposed to have confidence in this Administration’s postings when they're basically biased and downright deceptive? Like Other people putting up on below, This can be very little but gaslighting and fanfare. The details espoused are spurious to mention the the very least.
The information? The recently signed law is projected to even more to weaken the Social Protection software and its earnings. The SSA’s assertion is usually a blatant lie and falsely misrepresents the bill which was signed into legislation, along with its harm to retirees.
Men and women saying social security benefits who are under 65 or above those earning thresholds will see no tax gain.