The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely boasting it eliminates federal money taxes on most retirees’ Gains.
It does so by giving an Increased deduction for taxpayers aged 65 and more mature, making sure that retirees can hold more of what they acquired.
Social Stability remains devoted to offering timely, exact information to the public and can continue on Functioning carefully with federal companions to make sure beneficiaries understand how this legislation could have an impact on them.
Thus, the extra $6000 deduction and no taxes on SS usually means absolutely almost nothing to us. We've been working with the upper expenditures but have obtained absolutely nothing Using the passage with the BBB.
July 12, 2025 3:20PM So fundamentally, for the reason that I’m 43 and get SSDI this Invoice adjustments nothing at all for me Though I labored Prolonged Tough several hours to get paid the minimal bit of cash which i do get… since in between my husband And that i, we do make under $150k a calendar year, but nonetheless ample that Component of mine is taken into account “taxable “
July eleven, 2025 two:45PM I have observed a variance in how data is presented by SSA. I see no certain facts on how this influences me for the long run. I am 73 now and would like to see our benefits not taxed. Having said that, it’s a “I’ll feel it After i see it” post.
The new law includes a provision that eliminates federal cash flow taxes on Social Security Positive aspects for some beneficiaries, supplying aid to individuals and partners.
The bill makes sure that just about ninety% of Social Stability beneficiaries will no more fork out federal revenue taxes on their own Added benefits, delivering significant and quick aid to seniors who have put in a life span contributing to our country’s economy.
By noticeably reducing the tax stress on Advantages, this legislation reaffirms President Trump’s guarantee to safeguard Social Security and aids be certain that seniors more info can superior take pleasure in the retirement they’ve gained.”
July 13, 2025 six:13PM For those who and/or your husband or wife worked difficult for many years and The federal government took deductions for SS then Of course, a citizen warrants the payments they promised you in retirement. Much too undesirable that countless citizens sport the process and choose more than they ought to be entitled to obtain.
July 12, 2025 eight:50PM You happen to be just one that could gain. Speak with your tax individual- but as I understand it, you could submit a new withholding sort to get considerably less taken out OR you are able to assert the $6k at tax time. I’m not an expert but that’s how I browse it.
There isn't a adjust within the taxability of social stability Positive aspects. The Monthly bill only provides A short lived reward deduction of $6k for seniors 65+ and only earning under $75k if Single or $150k if married.
July 15, 2025 8:04AM I get a little pension in conjunction with my social security regular. I have a small financial commitment account. If I pull cash out, it will cause my profits to move the money limit and my SSI is taxed. Will this however be the case?
July 10, 2025 six:24PM How is any person alleged to rely on this Administration’s postings when they're fundamentally biased and downright misleading? Like Some others submitting on below, This really is practically nothing but gaslighting and fanfare. The points espoused are spurious to say the the very least.
The details? The newly signed legislation is projected to even more to weaken the Social Safety system and its profits. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into legislation, and its damage to retirees.
Persons get more info saying social stability Gains who will be less than sixty five or higher than Those people earning thresholds will see no tax gain.