The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it eliminates federal money taxes on most retirees’ Added benefits.

It does so by supplying an Improved deduction for taxpayers aged sixty five and older, ensuring that retirees can keep a lot more of the things they gained.

Social Protection continues to be dedicated to providing well timed, exact details to the general public and can continue Operating carefully with federal partners to be sure beneficiaries know how this laws may possibly impact them.

As a result, the extra $6000 deduction and no taxes on SS implies Unquestionably nothing to us. We've been managing the upper charges but have been given very little Along with the passage from the BBB.

July twelve, 2025 three:20PM So in essence, simply because I’m forty three and acquire SSDI this Invoice changes nothing at all for me Although I worked Very long Tricky several hours to receive the minor bit of cash which i do get… simply because among my husband and I, we do make underneath $150k a calendar year, but nevertheless more than enough that A part of mine is taken into account “taxable “

July eleven, 2025 2:45PM I've discovered a variance in how information is introduced by SSA. I see no specific knowledge on how this influences me for the long run. I'm seventy three now and would like to see our Advantages not taxed. Nevertheless, it’s a “I’ll feel it when I see it” short article.

The new law features a provision that gets rid of federal income taxes on Social Stability Rewards for the majority of beneficiaries, delivering aid to folks and couples.

The bill makes sure that virtually ninety% of Social Protection beneficiaries will not pay out federal profits taxes on their own Added benefits, furnishing significant and immediate aid to seniors who have used a life time contributing to our nation’s financial system.

By considerably decreasing the tax burden on Positive aspects, this legislation reaffirms President Trump’s assure to shield Social Protection and aids make sure seniors can better benefit from the retirement they’ve gained.”

July thirteen, 2025 six:13PM In case you and/or your spouse worked hard for decades and The federal government took deductions for SS then Sure, a citizen warrants the payments they promised you in retirement. Much too negative that numerous citizens game the technique and consider a lot more than they should be entitled to obtain.

July 12, 2025 8:50PM You might be 1 that should profit. Discuss with your tax person- but as I know it, you could post a different withholding variety to possess much less taken out OR it is possible to assert the $6k at tax time. I’m not an expert but that’s how I read it.

There is absolutely no transform within the taxability of social security Gains. The bill only gives A brief bonus deduction of $6k for seniors sixty five+ and only earning under $75k if Solitary or $150k if married.

July fifteen, 2025 8:04AM I get a modest pension as well as my social protection month-to-month. I've a little financial investment account. If I pull social locker plugin dollars out, it triggers my income to move the earnings Restrict and my SSI is taxed. Will this even now be the case?

July ten, 2025 6:24PM How is here anyone supposed to have confidence in this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other individuals posting on below, This can be very little but gaslighting and fanfare. The details espoused are spurious to state the the very least.

The here details? The recently signed regulation is projected to even more to weaken the Social Protection program and its income. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice that was signed into legislation, together with its harm to retirees.

People today saying social stability Positive aspects who are beneath sixty five or previously mentioned These earning thresholds will see no tax benefit.