The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it eradicates federal earnings taxes on most retirees’ Gains.

It does so by giving an enhanced deduction for taxpayers aged sixty five and more mature, making certain that retirees can retain far more of the things they acquired.

Social Stability remains devoted to providing well timed, accurate facts to the public and may keep on Functioning intently with federal companions to guarantee beneficiaries understand how this legislation might have an affect on them.

Consequently, the additional $6000 deduction and no taxes on SS signifies absolutely nothing at all to us. We are handling the upper charges but have obtained nothing Together with the passage of the BBB.

July twelve, 2025 three:20PM So mainly, since I’m forty three and get SSDI this Monthly bill variations almost nothing for me While I labored Extended Tough hours to receive the very little bit of money which i do get… mainly because concerning my spouse And that i, we do make beneath $150k a year, but nevertheless plenty of that Component of mine is taken into account “taxable “

July eleven, 2025 2:45PM I've seen a difference in the best way details is introduced by SSA. I see no precise data on how this has an effect on me for the long run. I'm seventy three now and would like to see our Advantages not taxed. Nonetheless, it’s a “I’ll believe it After i see it” report.

The new legislation features a provision that gets rid of federal income taxes on Social Safety Added benefits for most beneficiaries, offering aid to men and women and partners.

The bill makes certain that nearly 90% of Social Protection beneficiaries will no more pay federal profits taxes on their own Positive aspects, furnishing meaningful and speedy aid to seniors who definitely have put in a life span contributing to our nation’s overall economy.

By appreciably lowering the tax load on Rewards, this laws reaffirms President Trump’s guarantee to protect Social Stability and will help ensure that seniors can better enjoy the retirement they’ve earned.”

July 13, 2025 six:13PM In case you and/or your spouse worked tricky for decades and the government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Far too undesirable that here a lot of citizens recreation the technique and get greater than they ought to be entitled to acquire.

July 12, 2025 8:50PM You happen to be one that may profit. Speak with your tax particular person- but as I are aware of it, it is possible to post a here new withholding variety to obtain less taken out here OR you may claim the $6k at tax time. I’m not an authority but that’s how I examine it.

There is absolutely no adjust inside the taxability of social protection Rewards. The Invoice only presents A short lived bonus deduction of $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.

July 15, 2025 8:04AM I receive a smaller pension in addition to my social security month to month. I've a little financial commitment account. If I pull cash out, it will cause my income to pass the income Restrict and my SSI is taxed. Will this still be the situation?

July ten, 2025 6:24PM How is anybody supposed to belief this Administration’s postings when they're fundamentally biased and downright misleading? Like Other folks posting on right here, This really is nothing at all but gaslighting and fanfare. The info espoused are spurious to convey the the very least.

The points? The recently signed law is projected to more to weaken the Social Security application and its income. The SSA’s assertion is really a blatant lie and falsely misrepresents the Invoice which was signed into legislation, and also its hurt to retirees.

Persons proclaiming social stability Gains that are beneath sixty five or over These earning thresholds will see no tax benefit.