The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely boasting it gets rid of federal earnings taxes on most retirees’ Added benefits.
It does so by supplying an Improved deduction for taxpayers aged sixty five and more mature, making certain that retirees can continue to keep more of the things they earned.
Social Safety remains devoted to offering well timed, exact information and facts to the public and can continue on Performing closely with federal associates to guarantee beneficiaries understand how this legislation may possibly impact them.
For that reason, the additional $6000 deduction and no taxes on SS means Definitely practically nothing to us. We are dealing with the higher costs but have been given very little Along with the passage with the BBB.
July 12, 2025 three:20PM So in essence, mainly because I’m 43 and get SSDI this bill improvements absolutely nothing for me While I labored Extended Tough several hours to earn the tiny little bit of cash which i do get… for the reason that among my spouse and I, we do make below $150k a 12 months, but nonetheless sufficient that Component of mine is considered “taxable “
July 11, 2025 two:45PM I have observed a difference in the way information is introduced by SSA. I see no distinct info on how this has an effect on me for the long term. I am 73 now and would love to see our Rewards not taxed. On the other hand, it’s a “I’ll imagine it when I see it” report.
The new legislation features a provision that gets rid of federal profits taxes on Social Safety Added benefits for many beneficiaries, delivering relief to people and couples.
The bill makes sure that virtually ninety% of Social Stability beneficiaries will no longer shell out federal money taxes on their Positive aspects, offering meaningful and instant aid to seniors which have used a life time contributing to our country’s economic system.
By significantly decreasing the tax load on benefits, this legislation reaffirms President Trump’s guarantee to guard Social Security and allows ensure that seniors can much better benefit from the retirement they’ve acquired.”
July thirteen, 2025 6:13PM For those who and/or your wife or husband labored really hard for many years and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Much too bad that countless citizens match the process and acquire more than they must be entitled to get.
July twelve, 2025 eight:50PM You happen to be just one that will profit. Check with your tax particular person- but as I are aware of it, you may submit a brand new withholding form to have much less taken out OR it is possible to assert the $6k at tax time. I’m not an authority but that’s how I read through it.
There isn't any change while in the taxability of social safety Added benefits. The Invoice only offers A short lived reward deduction of $6k for seniors sixty five+ and only earning beneath $75k social locker plugin for wordpress if One or $150k if married.
July 15, 2025 here eight:04AM I receive a smaller pension coupled with my social safety regular monthly. I have a little expense account. If I pull revenue out, it brings about my income to move the profits read more Restrict and my SSI is taxed. Will this even now be the case?
July 10, 2025 six:24PM How is any person alleged to have confidence in this Administration’s postings when they are fundamentally biased and downright misleading? Like others putting up on right here, That is almost nothing but gaslighting and fanfare. The facts espoused are spurious to mention the least.
The points? The freshly signed law is projected to even more to weaken the Social Security software and its earnings. The SSA’s statement is often a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, and its hurt to retirees.
Men and women boasting social protection benefits that are underneath sixty five or earlier mentioned Those people earning thresholds will see no tax advantage.