The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it removes federal earnings taxes on most retirees’ Rewards.
It does so by furnishing an Increased deduction for taxpayers aged 65 and older, ensuring that retirees can hold a lot more of what they earned.
Social Stability continues to be devoted to giving well timed, accurate data to the public and can go on Doing the job carefully with federal partners to guarantee beneficiaries know how this legislation may influence them.
Thus, the additional $6000 deduction and no taxes on SS indicates Completely practically nothing to us. We're addressing the upper expenses but have gained nothing with the passage of the BBB.
July twelve, 2025 3:20PM So mainly, simply because I’m 43 and acquire SSDI this Invoice alterations nothing at all for me Although I labored LONG HARD several hours to earn the small bit of money that I do get… mainly because in between my husband And that i, we do make beneath $150k a calendar year, but still sufficient that Portion of mine is considered “taxable “
July eleven, 2025 2:45PM I've discovered a difference in the best way info is introduced by SSA. I see no precise information on how this has an effect on me for the long run. I am 73 now and would like to see our Rewards not taxed. Even so, it’s a “I’ll believe that it Once i see it” post.
The new legislation features a provision that gets rid of federal income taxes on Social Stability benefits for many beneficiaries, delivering relief to men and women and couples.
The bill makes sure that nearly 90% of Social Safety beneficiaries will now not shell out federal income taxes on their own Positive aspects, giving significant and quick aid to seniors who have spent a life time contributing to our nation’s financial system.
By noticeably decreasing the tax burden on Positive aspects, this legislation reaffirms President Trump’s promise to shield Social Protection and aids make sure seniors can greater enjoy the retirement they’ve acquired.”
July thirteen, 2025 six:13PM In case you and/or your spouse worked difficult for decades and the government took deductions for SS then YES, a more info citizen justifies the payments they promised you in retirement. Far too negative that so many citizens more info activity the process and consider a lot more than they ought to be entitled to obtain.
July 12, 2025 8:50PM That you are just one that can profit. Talk to your tax human being- but as I know it, you'll be able to submit a different withholding form to obtain much less taken out OR you could claim the $6k at tax time. I’m not a specialist but that’s how I read through it.
There isn't a alter within the taxability of social protection Advantages. The Invoice only gives A short lived bonus deduction of $6k for seniors sixty five+ and only earning down below $75k if Single or $150k if married.
July 15, 2025 8:04AM I receive a modest pension in conjunction with my social security every month. I've a small financial commitment account. If I pull revenue out, it brings about my profits to go the income limit and my SSI is taxed. Will this however be the case?
July ten, 2025 six:24PM How is anyone designed to belief this Administration’s postings when they're basically biased and downright misleading? Like Other individuals putting up on right here, This is often nothing but gaslighting and fanfare. The info espoused are spurious to mention the the very least.
The facts? The freshly signed legislation is projected to even more to weaken the Social Safety system and its income. The SSA’s statement can be a blatant lie and falsely misrepresents the bill that was signed into regulation, along with its hurt to retirees.
Persons proclaiming social protection Positive aspects who are below 65 or over People earning thresholds will see no tax reward.