The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely professing it removes federal revenue taxes on most retirees’ Added benefits.

It does so by supplying an Increased deduction for taxpayers aged 65 and older, making sure that retirees can continue to keep extra of the things they acquired.

Social Protection stays committed to delivering well timed, exact details to the general public and will keep on Functioning carefully with federal companions to be sure beneficiaries understand how this legislation may well have an effect on them.

Consequently, the additional $6000 deduction and no taxes on SS indicates Totally practically nothing to us. We've been dealing with the higher costs but have obtained almost nothing Using the passage on the BBB.

July twelve, 2025 3:20PM So fundamentally, due to the fact I’m 43 and obtain SSDI this bill adjustments nothing at all for me Regardless that I worked Very long HARD hrs to get paid the minimal bit of cash that I do get… for the reason that among my partner and I, we do make below $150k a calendar year, but nevertheless more than enough that Element of mine is considered “taxable “

July 11, 2025 two:45PM I've recognized a distinction in the best way details is presented by SSA. I see no specific details on how this impacts me for the long term. I'm 73 now and would like to see our Added benefits not taxed. Having said that, it’s a “I’ll believe it when I see it” write-up.

The brand new legislation features a provision that removes federal cash flow taxes on Social Protection Positive aspects for some beneficiaries, providing reduction to individuals and couples.

The Monthly bill ensures that just about 90% of Social Protection beneficiaries will now not spend federal money taxes on their Rewards, furnishing significant and fast aid to seniors who've expended a life span contributing to our country’s economic climate.

By appreciably reducing the tax load on Gains, this laws reaffirms President Trump’s promise to protect Social Safety and allows be certain that seniors can superior take pleasure in the retirement they’ve gained.”

July thirteen, 2025 six:13PM Should you and/or your wife or husband labored tricky for many years and The federal government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Far too poor that numerous citizens sport the process and just take a lot more than they must be entitled to acquire.

July twelve, 2025 8:50PM You might be 1 which will advantage. Speak to your tax person- but as I understand it, you are able to submit a fresh withholding form to get significantly less taken out OR you could declare the $6k at tax time. I’m not an authority but that’s how I browse it.

There is no improve while in the taxability of social safety benefits. The Monthly bill only presents A short lived reward deduction of $6k for seniors 65+ and only earning down below $75k if Solitary or $150k if married.

July 15, more info 2025 8:04AM I get a compact pension as well as my social stability month-to-month. I've a little expense account. If I pull dollars out, it triggers my income to move the money limit and my SSI is taxed. Will this even now be the situation?

July 10, 2025 6:24PM How is any individual alleged to have confidence in this Administration’s postings when they are basically biased and downright misleading? website Like others putting up on listed here, This is certainly click here absolutely nothing but gaslighting and fanfare. The info espoused are spurious to say the least.

The facts? The newly signed legislation is projected to further more to weaken the Social Security method and its income. The SSA’s statement is really a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, together with its damage to retirees.

Individuals proclaiming social protection Positive aspects who will be below 65 or previously mentioned Individuals earning thresholds will see no tax advantage.