The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it eradicates federal cash flow taxes on most retirees’ Rewards.
It does so by providing an enhanced deduction for taxpayers aged sixty five and older, ensuring that retirees can keep far more of the things they attained.
Social Security continues to be devoted to supplying well timed, precise details to the public and may continue on Doing work carefully with federal associates to be sure beneficiaries understand how this legislation might have an effect on them.
For that reason, the extra $6000 deduction and no taxes on SS implies Unquestionably almost nothing to us. We have been dealing with the upper charges but have received practically nothing Together with the passage of the BBB.
July 12, 2025 3:20PM So fundamentally, due to the fact I’m forty three and acquire SSDI this Invoice adjustments practically nothing for me While I labored LONG Tough several hours to get paid the tiny little bit of money which i do get… for the reason that among my spouse And that i, we do make less than $150k a year, but nonetheless ample that part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've found a difference in just how info is offered by SSA. I see no unique knowledge on how this has an effect on me for the long run. I am 73 now and would like to see our Positive aspects not taxed. Nevertheless, it’s a “I’ll think it Once i see it” posting.
The new law features a provision that eradicates federal money taxes on Social Security Advantages for the majority of beneficiaries, offering reduction to individuals and partners.
The Invoice makes sure that nearly 90% of Social Stability beneficiaries will no longer shell out federal money taxes on their Rewards, offering significant and speedy reduction to seniors which have put in a life time contributing to our country’s financial state.
By appreciably minimizing the tax burden on Positive aspects, this laws reaffirms President Trump’s promise to safeguard Social Stability and helps make sure seniors can better take pleasure in the retirement they’ve gained.”
July 13, 2025 6:13PM If you and/or your wife or husband worked challenging for many years and the government took deductions for SS then Sure, a citizen warrants the payments they promised you in retirement. Too terrible that so many citizens activity the process and consider greater than they need to be entitled to acquire.
July twelve, 2025 here 8:50PM You're a single that should gain. Speak to your tax individual- but as I are aware of it, you'll be able to submit a fresh withholding type to acquire significantly less taken out OR it is possible to assert the $6k at tax time. I’m not a specialist but that’s how I examine it.
There's no change in the taxability of social stability Gains. The Invoice only offers A short lived reward deduction of $6k for seniors sixty five+ and only earning beneath $75k if One or $150k if married.
July 15, 2025 8:04AM I get a smaller pension along with my social stability regular monthly. I have a little investment decision account. If I pull income out, it leads to my revenue to go the profits Restrict and my SSI is taxed. Will this website continue to be the case?
July ten, 2025 6:24PM How is any individual alleged to have faith in this Administration’s postings when they are fundamentally biased and downright misleading? Like others posting on in this article, this is absolutely nothing but gaslighting and fanfare. The info espoused are spurious to state the the very least.
The points? The freshly signed law is projected to further to weaken the Social Security system and its earnings. The SSA’s assertion is often a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, along with its harm to retirees.
People saying social protection Positive aspects who will be under sixty five or higher than These earning thresholds will see no tax more info profit.