The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely boasting it removes federal profits taxes on most retirees’ Gains.
It does so by delivering an enhanced deduction for taxpayers aged 65 and more mature, ensuring that retirees can retain more of the things they acquired.
Social Protection continues to be committed to delivering well timed, exact information to the public and will keep on Functioning carefully with federal associates to be sure beneficiaries know how this laws might influence them.
Hence, the additional $6000 deduction and no taxes on SS implies Unquestionably almost nothing to us. We've been working with the upper expenditures but have acquired almost nothing Along with the passage in the BBB.
July twelve, 2025 3:20PM So fundamentally, due to the fact I’m forty three and get SSDI this Invoice alterations absolutely nothing for me Although I worked Extended Really hard several hours to make the small little bit of cash that I do get… because involving my husband and I, we do make beneath $150k a year, but nonetheless adequate that Portion of mine is considered “taxable “
July 11, 2025 2:45PM I've discovered a distinction in the way facts is presented by SSA. I see no specific knowledge on how this affects me for the long term. I'm seventy three now and would like to see our Added benefits not taxed. On the other hand, it’s a “I’ll think it After i see it” post.
The new legislation features a provision that removes federal money taxes on Social Safety Gains for most beneficiaries, giving reduction to folks and couples.
The Invoice makes certain click here that almost 90% of Social Security beneficiaries will not spend federal profits taxes on their own benefits, providing meaningful and instant reduction to seniors who may have put in a life time contributing to our nation’s economic climate.
By appreciably decreasing the tax load on Added benefits, this legislation reaffirms President Trump’s guarantee to safeguard Social Security and aids make sure that seniors can better more info take pleasure in the retirement they’ve earned.”
July thirteen, 2025 6:13PM Should you and/or your husband or wife worked hard for many years and The federal government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Too lousy that so many citizens recreation the program and just take a lot more than they must be entitled social locker plugin for wordpress to acquire.
July 12, 2025 8:50PM You will be 1 that can gain. Talk with your tax human being- but as I comprehend it, you are able to submit a different withholding kind to acquire considerably less taken out OR you can declare the $6k at tax time. I’m not an expert but that’s how I read through it.
There is not any improve in the taxability of social protection Positive aspects. The Invoice only provides A brief bonus deduction of $6k for seniors sixty five+ and only earning underneath $75k if One or $150k if married.
July 15, 2025 8:04AM I receive a small pension together with my social safety regular monthly. I've a little expense account. If I pull money out, it triggers my revenue to move the earnings limit and my SSI is taxed. Will this nevertheless be the situation?
July ten, 2025 6:24PM How is any one speculated to rely on this Administration’s postings when they are fundamentally biased and downright deceptive? Like Other individuals publishing on below, This is often nothing at all but gaslighting and fanfare. The info espoused are spurious to mention the minimum.
The specifics? The recently signed regulation is projected to more to weaken the Social Stability system and its revenue. The SSA’s statement is often a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, and its hurt to retirees.
People proclaiming social stability Advantages who're under 65 or above Those people earning thresholds will see no tax benefit.