The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely proclaiming it eliminates federal money taxes on most retirees’ Advantages.
It does so by furnishing an Increased deduction for taxpayers aged 65 and older, making certain that retirees can maintain much more of what they earned.
Social Stability continues to be devoted to furnishing timely, precise information and facts to the public and will continue Operating intently with federal companions to be sure beneficiaries understand how this laws may well have an impact on them.
Hence, the additional $6000 deduction and no taxes on SS implies absolutely nothing at all to us. We're coping with the upper charges but have received very little Together with the passage in the BBB.
July twelve, 2025 three:20PM So fundamentally, since I’m forty three and receive SSDI this bill alterations absolutely nothing for me Regardless that I worked Very long Difficult hours to gain the minimal little bit of cash which i do get… for the reason that involving my partner And that i, we do make less than $150k a calendar year, but nonetheless enough that part of mine is taken into account “taxable “
July eleven, 2025 two:45PM I have observed a distinction in the way in which details is offered by SSA. I see no precise details on how this has an effect on me for the long term. I'm seventy three now and would love to see our Positive aspects not taxed. On the other hand, it’s a “I’ll believe that it when I see it” post.
The brand new legislation features a provision that eradicates federal revenue taxes on Social Safety Advantages for most beneficiaries, giving relief to people today and couples.
The bill makes certain that nearly ninety% of Social Stability beneficiaries will not spend federal cash flow taxes on their own Positive aspects, offering meaningful and instant aid to seniors who definitely have expended a life span contributing to our country’s economic system.
By substantially lessening the tax stress on benefits, this legislation reaffirms President Trump’s guarantee to safeguard Social Protection and helps make certain that seniors can far better benefit from the retirement they’ve attained.”
July 13, 2025 6:13PM In case you and/or your husband or wife worked hard for many years and the government took deductions for SS then Sure, a citizen justifies the payments they promised you in retirement. Far too bad that a lot of citizens recreation the program and consider a lot more than they ought to be entitled to get.
July 12, 2025 eight:50PM You might be a person which will benefit. Discuss with your tax man or woman- but as I comprehend it, you could submit social locker plugin a completely new withholding kind to own much less taken out OR you can claim the $6k at tax time. I’m not a professional but that’s how I read it.
There is no adjust during the taxability of social safety Rewards. The Monthly bill only offers A brief bonus deduction of $6k for seniors 65+ and only earning under $75k if Solitary or $150k if married.
July 15, 2025 8:04AM I receive a little pension in addition to my social safety regular monthly. I have a small expenditure account. If I pull revenue out, it causes my earnings to go the income Restrict and my SSI is taxed. Will this continue to be the situation?
July ten, 2025 6:24PM How is anybody speculated to have confidence in this Administration’s postings when they're basically biased and downright deceptive? Like Some others submitting on right here, This can be almost nothing but gaslighting and fanfare. The information espoused are spurious to say the minimum.
The facts? The recently signed regulation is projected to even more to weaken the Social Stability system and its profits. The SSA’s assertion is actually a blatant lie and falsely misrepresents the Monthly bill which was signed into law, together with its hurt to retirees.
Persons click here declaring social stability benefits who're less than 65 or previously mentioned These earning social locker plugin for wordpress thresholds will see no tax reward.