The Social Protection Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely boasting it gets rid of federal revenue taxes on most retirees’ Added benefits.
It does so by supplying an Increased deduction for taxpayers aged 65 and older, making certain that retirees can keep extra of what they acquired.
Social Protection continues to be dedicated to offering well timed, accurate info to the public and may continue Doing work intently with federal associates to guarantee beneficiaries know how this legislation might affect them.
Thus, the extra $6000 deduction and no taxes on SS implies Unquestionably nothing to us. We are managing the higher fees but have gained very little Using the passage of the BBB.
July 12, 2025 three:20PM So basically, mainly because I’m forty three and receive SSDI this Invoice improvements almost nothing for me Regardless that I worked Prolonged Tough several hours to generate the minimal bit of money which i do get… for the reason that between my partner and I, we do make beneath $150k a year, but still adequate that Section of mine is taken into account “taxable “
July 11, 2025 two:45PM I've found a distinction in the way in which info is introduced by SSA. I see no unique knowledge on how this affects me for the long term. I'm seventy three now and would love to see our Positive aspects not taxed. Even so, it’s a “I’ll believe that it After i see it” short article.
The new regulation features a provision that gets rid of federal income taxes on Social Stability Gains for some beneficiaries, giving reduction to folks and partners.
The bill makes sure that nearly ninety% of Social Security beneficiaries will no more pay federal cash flow taxes on their own benefits, giving meaningful and instant reduction to seniors that have expended a life time contributing to our country’s financial system.
By appreciably lowering the tax stress on Rewards, this laws reaffirms President Trump’s guarantee to safeguard Social Stability and allows make certain that seniors can far better benefit from the retirement they’ve click here acquired.”
July 13, 2025 six:13PM In the event you and/or your spouse worked difficult for decades and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Far too lousy that so many citizens activity the technique and get a lot more than they ought to be entitled to get.
July twelve, 2025 eight:50PM You are 1 that will benefit. Discuss with your tax person- but as I are aware of it, it is possible to submit a new withholding type to get much less taken out OR you could claim the $6k at tax time. I’m not a specialist but that’s how I examine it.
There is absolutely no adjust in the taxability of social protection Rewards. The bill only offers a temporary reward deduction of $6k for seniors 65+ and only earning below $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a smaller pension in conjunction with my social stability regular. I have a small investment account. If I pull cash out, it leads to my money to go the money limit and my SSI is taxed. Will this nevertheless be the case?
July ten, 2025 6:24PM How is anybody designed to have confidence in this Administration’s postings when they're essentially biased and downright deceptive? Like Other people submitting on here, This really is nothing at all but gaslighting and fanfare. The facts espoused are spurious to mention the minimum.
The points? The freshly signed legislation is projected here to even more click here to weaken the Social Protection program and its earnings. The SSA’s statement can be a blatant lie and falsely misrepresents the Invoice which was signed into legislation, together with its damage to retirees.
People declaring social protection Advantages who will be under sixty five or previously mentioned Individuals earning thresholds will see no tax profit.