The Social Safety Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely saying it eradicates federal money taxes on most retirees’ Advantages.

It does so by providing an enhanced deduction for taxpayers aged sixty five and more mature, guaranteeing that retirees can preserve more of whatever they attained.

Social Protection continues to be devoted to providing well timed, correct info to the public and may continue Doing work carefully with federal companions to make certain beneficiaries understand how this legislation may have an effect on them.

For that reason, the extra $6000 deduction and no taxes on SS means Unquestionably almost nothing to us. We've been dealing with the higher expenditures but have acquired practically nothing While using the passage of your BBB.

July twelve, 2025 three:20PM So fundamentally, due to the fact I’m 43 and receive SSDI this Monthly bill variations absolutely nothing for me even though I labored Lengthy HARD hrs to receive the minimal little bit of cash that I do get… mainly because concerning my partner And that i, we do make beneath $150k a yr, but still sufficient that Section of mine is taken into account “taxable “

July 11, 2025 two:45PM I've observed a change in just how facts is presented by SSA. I see no particular knowledge on how this affects me for the long term. I'm seventy three now and would like to see our Positive aspects not taxed. However, it’s a “I’ll imagine it After i see it” post.

The brand new law features a provision that eradicates federal earnings taxes on Social Safety Positive aspects for some beneficiaries, furnishing aid to persons and partners.

The bill ensures that just about 90% of Social Security beneficiaries will now not spend federal profits taxes on their Gains, offering significant and rapid reduction to seniors which have spent a life time contributing to our country’s financial system.

By substantially lessening the tax stress on Rewards, this legislation reaffirms President Trump’s guarantee to shield Social Security and aids make sure seniors can improved take pleasure in the retirement they’ve earned.”

July thirteen, 2025 six:13PM For those who and/or your partner worked tough for many years and the government took deductions for SS then YES, a citizen warrants the payments they promised you in retirement. Far too negative that numerous citizens recreation the system and take over they should be more info entitled to obtain.

July twelve, 2025 eight:50PM That you are a person that could reward. Talk with your tax individual- but as I are aware of it, you could submit a completely new withholding type to have a lot less taken out OR you are able to assert the $6k at tax time. I’m not a specialist but that’s how I browse it.

There isn't a change in the taxability of social protection Rewards. The Invoice only presents A short lived bonus deduction of get more info $6k for seniors 65+ and only earning below $75k if Solitary or $150k if married.

July 15, 2025 eight:04AM I receive a little pension as well as my social safety month to month. I have a little investment account. If I pull cash out, it leads to my revenue to go the money limit and my SSI is taxed. Will this nevertheless be the case?

July ten, 2025 6:24PM How is read more anybody supposed to belief this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other people submitting on listed here, That is absolutely nothing but gaslighting and fanfare. The facts espoused are spurious to convey the least.

The details? The recently signed law is projected to more to weaken the Social Protection program and its revenue. The SSA’s statement is actually a blatant lie and falsely misrepresents the bill that was signed into legislation, in addition to its hurt to retirees.

Men and women proclaiming social protection Rewards who will be below sixty five or previously mentioned those earning thresholds will see no tax reward.