The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it eliminates federal profits taxes on most retirees’ Positive aspects.
It does so by delivering an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can continue to keep more of the things they acquired.
Social Protection stays dedicated to giving timely, precise information and facts to the general public and will carry on Doing the job carefully with federal companions to guarantee beneficiaries understand how this laws might have an affect on them.
As a result, the additional $6000 deduction and no taxes on SS signifies absolutely nothing at all to us. We're working with the higher expenses but have gained nothing Along with the passage of your BBB.
July twelve, 2025 three:20PM So basically, because I’m forty three and acquire SSDI this bill modifications very little for me Regardless that I labored Extensive Tricky hrs to make the small bit of cash that I do get… since involving my partner and I, we do make under $150k a 12 months, but nonetheless more than enough that Component of mine is taken into account “taxable “
July 11, 2025 two:45PM I have discovered a change in just how information is presented by SSA. I see no distinct info on how this affects me for the long term. I am seventy three now and would love to see our Gains not taxed. Even so, it’s a “I’ll feel it After i see it” post.
The new legislation features a provision that eradicates federal earnings taxes on Social Security Gains for some beneficiaries, supplying aid to persons and partners.
The Invoice ensures that virtually ninety% of Social Security beneficiaries will now not pay out federal money taxes on their own Advantages, delivering significant and immediate reduction to seniors who may have spent a lifetime contributing to our nation’s economic system.
By significantly lessening the tax stress on benefits, this laws reaffirms President Trump’s assure to shield Social Safety and assists make sure seniors can improved enjoy the retirement they’ve earned.”
July 13, 2025 6:13PM Should you and/or your wife or husband labored really hard for many years and The federal government took deductions for SS then Of course, a citizen warrants the payments they promised you in retirement. Way too terrible that a great number of citizens video game the technique and just take over they should be entitled to get.
July 12, 2025 8:50PM You happen to be one particular that will profit. Check with your tax man or woman- but as I are aware of it, you could post a whole new withholding kind to possess less taken out OR you may declare the $6k at tax time. I’m not a professional but that’s how I browse it.
There is not any adjust within the taxability of social stability Rewards. The Monthly bill only offers a temporary bonus deduction of $6k for seniors sixty five+ and only earning beneath $75k if Single or $150k if married.
July social locker plugin fifteen, 2025 8:04AM I get a little pension together with my social protection month-to-month. I have a small investment account. If I pull dollars out, it triggers my profits to pass the profits Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 6:24PM How is any person supposed to believe in this Administration’s postings when they are basically biased and downright deceptive? Like others posting on listed here, This is check here often nothing at all but gaslighting and fanfare. The specifics espoused are spurious to convey the the very least.
The website facts? The newly signed law is projected to even further to weaken the Social Security plan and its revenue. The SSA’s statement is actually a blatant lie and falsely misrepresents the Invoice that was signed into law, in addition to its harm to retirees.
Folks proclaiming social stability Added benefits that are underneath sixty five or earlier mentioned All those earning thresholds will see no tax profit.