The Social Security Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it eradicates federal income taxes on most retirees’ Rewards.
It does so by supplying an Improved deduction for taxpayers aged sixty five and more mature, making certain that retirees can hold extra of the things they attained.
Social Security stays devoted to furnishing well timed, accurate data to the public and will continue Performing carefully with federal partners to be certain beneficiaries understand how this legislation could have an effect on them.
As a result, the additional $6000 deduction and no taxes on SS indicates Totally practically nothing to us. We've been coping with the upper expenditures but have received very little With all the passage in the BBB.
July 12, 2025 3:20PM So fundamentally, for the reason that I’m forty three and get SSDI this bill modifications almost nothing for me Though I labored Very long HARD hours to earn the minor bit of money that I do get… since concerning my husband And that i, we do make beneath $150k a yr, but nonetheless adequate that Portion of mine is taken into account “taxable “
July eleven, 2025 2:45PM I have recognized a variance in the way information is presented by SSA. I see no particular details on how this impacts me for the long run. I am seventy three now and would like to see our benefits not taxed. Nonetheless, it’s a “I’ll believe it After i see it” write-up.
The new law features a provision that gets rid of federal cash flow taxes on Social Safety Rewards for most beneficiaries, supplying aid to persons and partners.
The bill makes certain that approximately ninety% of Social Security beneficiaries will now not shell out federal revenue taxes on their benefits, supplying meaningful and speedy reduction to seniors which have used a lifetime contributing to our country’s economic system.
By substantially reducing the tax load on benefits, this laws reaffirms President Trump’s promise to shield Social Protection and aids make certain that seniors can better take pleasure in the retirement they’ve attained.”
July thirteen, 2025 six:13PM Should you and/or your partner labored tricky for many years and The federal government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. Too undesirable that lots of citizens game the method and just take greater than they should be entitled to receive.
July twelve, 2025 eight:50PM That you are a person which will reward. Check with your tax person- but as I realize it, it is possible to post a whole new withholding type to possess much less taken out OR you could assert the $6k at tax time. I’m not an authority but that’s how I read it.
There is not any adjust in the taxability of social stability benefits. The bill only offers A short lived bonus deduction of $6k for seniors 65+ and check here only earning beneath $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I get a compact pension together with my social security month-to-month. I have a small financial investment account. If I pull dollars out, it results in my money to go the income limit and my SSI is taxed. Will this still be the situation?
July ten, 2025 6:24PM How is any one designed to have social locker plugin faith in this Administration’s postings when they are essentially biased and downright misleading? Like Many others posting on here, this is very little but gaslighting and fanfare. The information espoused are spurious to mention the minimum.
The details? The freshly signed law is projected to even further to weaken the Social Safety method and its revenue. The SSA’s statement is usually a blatant lie and falsely misrepresents the Monthly bill that was signed into law, and its damage to retirees.
Individuals saying social safety Gains who're underneath 65 or above These earning thresholds will see no tax reward.