The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it removes federal revenue taxes on most retirees’ Advantages.
It does so by delivering an Improved deduction for taxpayers aged sixty five and more mature, making certain that retirees can keep a lot more of the things they acquired.
Social Protection remains dedicated to offering well timed, correct facts to the general public and will go on working intently with federal associates to be sure beneficiaries know how this legislation may possibly influence them.
Therefore, the extra $6000 deduction and no taxes on SS suggests absolutely almost nothing to us. We're dealing with the higher costs but have received nothing at all Together with the passage of your BBB.
July 12, 2025 three:20PM So essentially, for the reason that I’m 43 and obtain SSDI this Invoice variations very little for me While I worked LONG HARD several hours to get paid the minimal little bit of money that I do get… due to the fact among my partner and I, we do make underneath $150k a yr, but nonetheless ample that Section of mine is considered “taxable “
July 11, 2025 two:45PM I have recognized a change in the way in which data is presented by SSA. I see no specific data on how this influences me for the long run. I am 73 now and would like to see our Added benefits not taxed. On the other hand, it’s a “I’ll imagine it when I see it” article.
The new regulation includes a provision that eliminates federal profits taxes on Social Security Gains for the majority of beneficiaries, supplying aid to folks and couples.
The Invoice makes read more sure that virtually ninety% of Social Stability beneficiaries will no longer pay federal revenue taxes on their Gains, supplying significant and speedy aid to seniors which have spent a lifetime contributing to our country’s economy.
By substantially minimizing the tax load on Gains, this legislation reaffirms President Trump’s guarantee to protect Social Stability and allows make certain that seniors can better enjoy the retirement they’ve acquired.”
July thirteen, 2025 six:13PM When you and/or your wife or husband worked tough for many years and the government took deductions for SS then YES, a citizen deserves the payments they promised you in retirement. Way too bad that so many citizens video game the process and just take more than they must be entitled to receive.
July 12, 2025 8:50PM You might be a person that may gain. Talk to your tax particular person- but as I are aware of it, you may submit a brand new withholding form to get significantly less taken out OR it is possible to declare the $6k at tax time. I’m not an expert but that’s how I go through it.
There's no modify during the taxability of social stability benefits. The Monthly bill only presents A brief reward deduction of $6k read more for seniors 65+ and only earning down below $75k if Solitary or $150k if married.
July 15, 2025 eight:04AM I receive a small pension as well as my social security regular. I've a little financial investment account. If I pull dollars out, it leads to my revenue to move the income Restrict and my SSI is taxed. Will this however be the situation?
July 10, 2025 6:24PM How is everyone imagined to have confidence in this Administration’s postings when they're fundamentally biased and downright misleading? Like Some others posting on right here, This is certainly absolutely nothing but gaslighting and fanfare. The facts espoused are spurious to say the least.
The specifics? The recently signed law is projected to additional to weaken the Social Safety plan and its revenue. The SSA’s statement is a blatant lie and falsely misrepresents the bill which was signed into legislation, as well as its hurt to retirees.
Persons declaring social protection Gains who're under sixty five or higher than those earning thresholds will see no tax gain.