The Social Safety Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it gets rid of federal cash flow taxes on most retirees’ Added benefits.
It does so by giving an Increased deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can continue to keep much more of what they acquired.
Social Safety remains devoted to giving timely, exact facts to the public and may continue on Performing intently with federal companions to be certain beneficiaries understand how this legislation might have an effect on them.
Hence, the extra $6000 deduction and no taxes on SS suggests Unquestionably nothing to us. We're dealing with the higher prices but have been given practically nothing With all the passage from the BBB.
July twelve, 2025 three:20PM So in essence, for the reason that I’m 43 and receive SSDI this Monthly bill improvements almost nothing for me While I worked Extensive Challenging hours to receive the small bit of cash that I do get… for the reason that concerning my partner And that i, we do make underneath $150k a yr, but still more than enough that Element of mine is taken into account “taxable “
July 11, 2025 two:45PM I have found a change in just how details is presented by SSA. I see no distinct knowledge on how this has an effect on me for the long run. I'm 73 now and would like to see our Positive aspects not taxed. Nevertheless, it’s a “I’ll consider it when I see it” article.
The brand new law features a provision that eliminates federal cash flow taxes on Social Safety benefits for the majority of beneficiaries, providing reduction to men and women and partners.
The Monthly bill makes certain that nearly ninety% of Social Protection beneficiaries will no more pay out federal revenue taxes on their own Gains, offering significant and speedy reduction to seniors which have spent a life span contributing to our country’s financial system.
By significantly decreasing the tax load on Positive aspects, this legislation reaffirms President Trump’s assure to guard Social Protection and allows ensure that seniors can improved enjoy the retirement they’ve earned.”
July 13, 2025 six:13PM Should you and/or your husband or wife labored really hard for decades and the government took deductions for SS then YES, a citizen warrants the payments they promised you in retirement. As well poor that a great number of citizens game the system and take more than they must be entitled to receive.
July 12, 2025 eight:50PM You're a single that should reward. Speak with your tax human being- but as I realize it, it is possible to submit a fresh withholding sort to get fewer taken out OR you'll be able to assert the $6k at tax time. I’m not a specialist but that’s how I examine it.
There isn't a transform in the taxability of social security Rewards. The Monthly bill only presents a temporary reward deduction of $6k for seniors 65+ and only earning down below $75k if Single or check here $150k if married.
July fifteen, 2025 eight:04AM I get a little pension as well as my social safety regular monthly. I've a small expense account. If I pull cash out, it triggers my click here profits to move the cash flow limit and my SSI is taxed. Will this even now be the case?
July ten, 2025 six:24PM How is anyone imagined to have check here faith in this Administration’s postings when they're essentially biased and downright misleading? Like Many others publishing on here, This is certainly very little but gaslighting and fanfare. The info espoused are spurious to convey the minimum.
The details? The newly signed law is projected to even more to weaken the Social Protection method and its revenue. The SSA’s assertion is a blatant lie and falsely misrepresents the bill that was signed into regulation, and its hurt to retirees.
Men and women declaring social safety Added benefits who will be under 65 or earlier mentioned All those earning thresholds will see no tax benefit.