The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely claiming it removes federal profits taxes on most retirees’ Added benefits.
It does so by supplying an enhanced deduction for taxpayers aged 65 and more mature, making certain that retirees can continue to keep much more of whatever they acquired.
Social Stability stays committed to offering timely, exact information and facts to the general public and can carry on Performing intently with federal companions to make certain beneficiaries understand how this laws may perhaps have an affect on them.
Therefore, the extra $6000 deduction and no taxes on SS implies absolutely nothing at all to us. We are coping with the upper fees but have been given practically nothing With all the passage of your BBB.
July twelve, 2025 3:20PM So basically, since I’m 43 and receive SSDI this bill adjustments nothing at all for me Despite the fact that I labored Very long Tough hours to earn the little bit of cash that I do get… for the reason that involving my partner and I, we do make under $150k a yr, but nevertheless ample that Element of mine is considered “taxable “
July 11, 2025 2:45PM I've noticed a distinction in just how info is offered by SSA. I see no particular facts on how this has an effect on me for the long run. I am 73 now and would like to see our Added benefits not taxed. Nevertheless, it’s a “I’ll believe that it After i see it” article.
The new law includes a provision that eradicates federal money taxes on Social Stability Positive aspects for most beneficiaries, offering aid to individuals and couples.
The Monthly bill makes sure that virtually 90% of Social Stability beneficiaries will not fork out federal profits taxes on their own Positive aspects, furnishing significant social locker plugin for wordpress and rapid reduction to seniors who have invested a life span contributing to social locker plugin for wordpress our nation’s economic system.
By drastically cutting down the tax burden on benefits, this laws reaffirms President Trump’s promise to safeguard Social Protection and can help make sure seniors can much better take pleasure in the retirement they’ve attained.”
July 13, 2025 six:13PM In the event you and/or your husband or wife worked hard for many years and The federal government took deductions for SS then Sure, a citizen justifies the payments they promised you in retirement. Far too negative that so many citizens activity the method and choose a lot more than they should be entitled to receive.
July 12, 2025 eight:50PM You will be 1 that should benefit. Discuss with your tax person- but as I are aware of it, you could post a brand new withholding sort to get a lot less taken out OR it is possible to assert the $6k at tax time. I’m not a professional but that’s how I read it.
There's no adjust during the taxability of social stability benefits. The bill only gives a temporary reward deduction of $6k for seniors sixty five+ and only earning under $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I get a modest pension as well as my social safety regular monthly. I've a little financial commitment account. If I pull dollars out, it will cause my cash flow to pass the income Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 6:24PM How is anyone speculated to trust this Administration’s postings when they are essentially biased and downright deceptive? Like Other individuals posting on in this article, this is nothing but gaslighting and fanfare. The info espoused are spurious to say more info the minimum.
The information? The freshly signed legislation is projected to even more to weaken the Social Protection application and its revenue. The SSA’s statement is actually a blatant lie and falsely misrepresents the bill that was signed into legislation, together with its harm to retirees.
Persons saying social protection Added benefits who are less than sixty five or over Those people earning thresholds will see no tax advantage.