The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it gets rid of federal profits taxes on most retirees’ Added benefits.
It does so by giving an Increased deduction for taxpayers aged sixty five and older, ensuring that retirees can preserve far more of whatever they earned.
Social Protection continues to be committed to supplying well timed, precise information and facts to the general public and may go on Doing the job intently with federal associates to be certain beneficiaries understand how this laws may well influence them.
Thus, the extra $6000 deduction and no taxes on SS suggests Completely very little to us. We have been coping with the upper prices but have gained nothing With all the passage with the BBB.
July twelve, 2025 3:20PM So generally, for the reason that I’m 43 and receive SSDI this bill alterations nothing at all for me Though I labored Extended Really hard hours to make the very little little bit of cash which i do get… simply because concerning my husband and I, we do make beneath $150k a year, but still sufficient that A part of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've noticed a big difference in how details is introduced by SSA. I see no particular info on how this affects me for the long term. I'm 73 now and would love to see our Rewards not taxed. Having said that, it’s a “I’ll believe that it when I see it” post.
The new regulation features a provision that eliminates federal revenue taxes on Social Stability Positive aspects for many beneficiaries, giving relief to folks and couples.
The Invoice makes sure that practically 90% of Social Safety beneficiaries will not spend federal profits taxes on their own Added benefits, offering meaningful and instant aid to seniors that have put in a life span contributing to our nation’s overall economy.
By significantly minimizing the tax load on Gains, this laws reaffirms President Trump’s promise to shield Social Security and will help ensure that seniors can much better take pleasure in the retirement they’ve attained.”
July thirteen, 2025 six:13PM If you and/or your wife or husband labored tough for many years and the government took deductions for SS then YES, a citizen deserves the payments they promised you in retirement. Also undesirable that lots of citizens sport the procedure and just take much more than they need to be entitled to acquire.
July 12, 2025 8:50PM That you are a single that will gain. Discuss with your tax individual- but as social locker plugin I comprehend it, it is possible to post a whole new withholding variety to obtain much less taken out OR you'll be able to claim the $6k at tax time. I’m not an authority but that’s read more how I read through it.
There isn't any improve within the taxability of social safety Gains. The Invoice only gives A brief bonus deduction of $6k for seniors 65+ and only earning under $75k if Single or $150k if married.
July fifteen, 2025 8:04AM I get a little pension as well as my social security regular monthly. I have a little expense account. If I pull income out, it brings about my earnings to pass the money Restrict and my SSI is taxed. Will this continue to be the case?
July 10, 2025 six:24PM How is anyone speculated to believe in this Administration’s postings when they're essentially biased and downright deceptive? Like Other people putting up on listed here, This is often almost nothing but gaslighting and fanfare. The facts espoused are spurious to click here convey the minimum.
The information? The newly signed regulation is projected to further more to weaken the Social Security method and its income. The SSA’s statement is really a blatant lie and falsely misrepresents the bill that was signed into regulation, and its damage to retirees.
Folks proclaiming social security benefits who will be below sixty five or previously mentioned These earning thresholds will see no tax profit.