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

It does so by giving an Improved deduction for taxpayers aged 65 and older, making sure that retirees can keep much more of whatever they gained.

Social Security continues to be dedicated to offering timely, precise details to the public and can proceed Doing work closely with federal partners to make certain beneficiaries understand how this legislation may well have an effect on them.

Therefore, the additional $6000 deduction and no taxes on SS usually means absolutely nothing at all to us. We're dealing with the upper costs but have acquired very little While using the passage of the BBB.

July twelve, 2025 three:20PM So basically, mainly because I’m 43 and receive SSDI this Invoice modifications absolutely nothing for me Despite the fact that I labored Very long Challenging several hours to make the minor little bit of money that I do get… for the reason that involving my partner And that i, we do make beneath $150k a 12 months, but nonetheless plenty of that A part of mine is considered “taxable “

July 11, 2025 2:45PM I've observed a variance in the way info is presented by SSA. I see no precise data on how this affects me for the long run. I'm seventy three now and would like to see our Added benefits not taxed. On the other hand, it’s a “I’ll believe that it when I see it” write-up.

The new law features a provision that removes federal income taxes on Social Security Advantages for many beneficiaries, offering relief to persons and couples.

The bill ensures that practically click here ninety% of Social Safety beneficiaries will no longer spend federal income taxes on their Advantages, supplying significant and speedy relief to seniors that have invested a life span contributing to our nation’s economic system.

By considerably reducing the tax load on Advantages, this laws reaffirms President Trump’s guarantee to protect Social Protection and assists ensure that seniors can much better take pleasure in the retirement they’ve attained.”

July 13, 2025 six:13PM For those who and/or your wife or husband worked hard for many years and The federal government took deductions for SS then Sure, a citizen deserves check here the payments they promised you in retirement. As well terrible that lots of citizens game the method and take more than they must be entitled to obtain.

July 12, 2025 eight:50PM You will be just one that should reward. Discuss with your tax man or woman- but as I comprehend it, you are able to submit a brand new withholding sort to possess fewer taken out OR you are able to declare the $6k at tax time. I’m not a professional but that’s how I read through it.

There isn't a modify during the taxability of social protection benefits. The Invoice only provides A short lived reward deduction of $6k for seniors sixty five+ and only earning below $75k if One or $150k if married.

July fifteen, 2025 eight:04AM I get a tiny pension coupled with my social stability month-to-month. I have a small financial investment account. If I pull cash out, it triggers my cash flow to pass the revenue limit and my SSI is taxed. Will this still be the case?

July 10, 2025 six:24PM How is any one designed to have faith in this Administration’s postings when they're essentially biased and downright misleading? check here Like Many others publishing on right here, That is nothing at all but gaslighting and fanfare. The information espoused are spurious to state the the very least.

The info? The freshly signed regulation is projected to additional to weaken the Social Protection method and its revenue. The SSA’s assertion is really a blatant lie and falsely misrepresents the Invoice which was signed into law, as well as its hurt to retirees.

Men and women declaring social protection benefits who're underneath sixty five or earlier mentioned These earning thresholds will see no tax reward.