The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it removes federal cash flow taxes on most retirees’ Gains.
It does so by offering an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can preserve a lot more of what they earned.
Social Security continues to be committed to supplying well timed, precise facts to the general public and will go on Doing work closely with federal associates to be sure beneficiaries understand how this legislation could have an impact on them.
For that reason, the additional $6000 deduction and no taxes on SS suggests Totally almost nothing to us. We are dealing with the upper costs but have been given nothing at all with the passage on the BBB.
July 12, 2025 3:20PM So in essence, due to the fact I’m forty three and receive SSDI this Invoice changes nothing for me Though I labored Extensive Difficult hrs to gain the minor bit of money which i do get… since among my husband and I, we do make beneath $150k a yr, but still sufficient that Section of mine is considered “taxable “
July 11, 2025 2:45PM I've found a difference in the way information is presented by SSA. I see no particular info on how this impacts me for the long run. I'm 73 now and would love to see our Advantages not taxed. Nonetheless, it’s a “I’ll feel it when I see it” article.
The brand new legislation includes a provision that removes federal revenue taxes on Social Stability Gains for the majority of beneficiaries, giving relief to people and partners.
The Invoice ensures that practically ninety% of Social Safety beneficiaries will no longer pay federal money taxes on their own Rewards, providing significant and quick reduction to seniors that have invested a life span contributing to our nation’s financial state.
By appreciably minimizing the tax stress on Positive aspects, this laws reaffirms President Trump’s guarantee to safeguard Social Protection and allows be sure that seniors can better enjoy the retirement they’ve acquired.”
July thirteen, 2025 6:13PM For those who and/or your spouse worked challenging for many years and The federal government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. As well lousy that a lot of citizens video game the system and consider greater than they must be entitled to obtain.
July twelve, 2025 eight:50PM You are one particular that will advantage. Speak with your tax particular person- but as I are aware of it, it is possible to submit a brand new withholding type to possess a lot less taken out OR you could assert the $6k at tax time. I’m not an authority but that’s how I go through it.
There is absolutely no adjust while in the taxability of social protection Positive aspects. The Invoice only gives a temporary reward deduction of $6k for seniors 65+ and only earning below $75k if One or $150k if married.
July fifteen, 2025 8:04AM I receive a tiny pension as well as my social security every month. I have a little financial investment account. If I pull funds out, it will cause my money to pass the cash flow Restrict and my SSI is taxed. Will this still be the situation?
July 10, 2025 six:24PM How is anybody speculated to believe in this Administration’s postings when they're basically biased and downright deceptive? Like Other individuals publishing on below, This really is nothing but gaslighting and fanfare. The specifics espoused are spurious to convey the least.
The information? The freshly signed law is projected to even further to weaken the Social Security system and its profits. The SSA’s assertion is a blatant lie and falsely misrepresents the bill that was signed into law, together with its harm here to retirees.
Persons professing social stability benefits who will be under sixty five or above People earning thresholds will website see no tax benefit.