The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely saying it removes federal money taxes on most retirees’ Advantages.

It does so by furnishing an Improved deduction for taxpayers aged sixty five and older, guaranteeing that retirees can continue to keep extra of whatever they acquired.

Social Safety remains committed to delivering well timed, exact information to the general public and will proceed Performing intently with federal partners to guarantee beneficiaries know how this laws may well affect them.

For that reason, the extra $6000 deduction and no taxes on SS signifies Certainly nothing at all to us. We're managing the higher fees but have obtained nothing at all Together with the passage on the BBB.

July twelve, 2025 3:20PM So basically, since I’m forty three and obtain SSDI this Invoice modifications nothing at all for me even though I labored Lengthy Really hard several hours to gain the small bit of cash that I do get… simply because between my partner And that i, we do make below $150k a calendar year, but nevertheless ample that A part of mine is taken into account “taxable “

July 11, 2025 2:45PM I've discovered a distinction in the best way details is offered by SSA. I see no certain information on how this affects me for the long run. I'm 73 now and would like to see our Positive aspects not taxed. However, it’s a “I’ll imagine it Once i see it” short article.

The new legislation features a provision that eradicates federal earnings taxes on Social Safety Positive aspects for most read more beneficiaries, furnishing reduction to men and women and partners.

The Invoice makes certain that practically ninety% of Social Security beneficiaries will no longer pay back federal cash flow taxes on their own benefits, delivering meaningful and rapid aid to seniors who've put in a life span contributing to our country’s financial system.

By considerably reducing the tax load on Rewards, this laws reaffirms President Trump’s promise to safeguard Social Safety and can help ensure that seniors can superior enjoy the retirement they’ve earned.”

July 13, 2025 6:13PM If you and/or your spouse labored hard for decades and The federal government took deductions for SS then Sure, a citizen deserves the payments they promised you in retirement. Also lousy that a lot of citizens match the system and consider greater than they ought to be entitled to get.

July 12, 2025 eight:50PM That read more you are a single that will reward. Check with your tax individual- but as I understand it, it is possible to submit a brand new withholding form to obtain fewer taken out OR it is possible to claim the $6k at tax time. I’m not a specialist but that’s how I go through it.

There's no improve while in the taxability of social security Added benefits. The bill only presents A brief reward deduction of $6k for seniors 65+ and only earning underneath $75k if Single or $150k if married.

July 15, 2025 eight:04AM I get a modest pension along with my social safety regular. I have a small financial commitment account. If I pull funds out, it brings about my income to move the income Restrict and my SSI is taxed. Will this nevertheless be the situation?

July 10, 2025 6:24PM How is any one speculated to rely on this Administration’s postings when they're fundamentally biased and downright misleading? Like Some others publishing on right here, This is often almost nothing but gaslighting and fanfare. The specifics espoused are spurious to state the least.

The information? The newly signed legislation is projected to more to weaken the Social Security method and its revenue. The SSA’s statement is often a blatant lie and falsely misrepresents the bill which was signed into regulation, along with its damage to retirees.

Men and women professing social protection Positive aspects who are below sixty five or higher than People earning thresholds will see no tax profit.