The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it eradicates federal earnings taxes on most retirees’ benefits.
It does so by supplying an Improved deduction for taxpayers aged sixty five and older, guaranteeing that retirees can maintain extra of the things they gained.
Social Stability continues to be devoted to furnishing timely, accurate facts to the general public and may proceed Doing the job closely with federal partners to be certain beneficiaries know how this laws may well influence them.
Hence, the extra $6000 deduction and no taxes on SS suggests Definitely very little to us. We are managing the higher costs but have gained nothing Along with the passage from the BBB.
July 12, 2025 three:20PM So mainly, for the reason that I’m forty three and acquire SSDI this Monthly bill variations absolutely nothing for me Regardless that I worked Extensive Tricky several hours to gain the tiny little bit of money that I do get… because amongst my spouse and I, we do make less than $150k a yr, but still more than enough that Section of mine is considered “taxable “
July 11, 2025 two:45PM I've recognized a variation in just how details is presented by SSA. I see no particular details on how this influences me for the long term. I am 73 now and would love to see our Rewards not taxed. Having said that, it’s a “I’ll believe it when I see it” article.
The new law includes a provision that gets rid of federal cash flow taxes on Social Stability benefits for some beneficiaries, providing reduction to folks and partners.
The bill makes sure that approximately 90% of Social Stability beneficiaries will no more pay out federal money taxes on their own Advantages, offering meaningful and rapid reduction to seniors who have expended a lifetime contributing to our country’s economy.
By substantially reducing the tax load on Advantages, this laws reaffirms President Trump’s assure to guard Social Safety and will help make sure that seniors can improved enjoy the retirement they’ve attained.”
July 13, 2025 6:13PM If you and/or your partner labored difficult for decades and the check here government took deductions for SS then Certainly, a citizen deserves the payments they promised you in retirement. Also negative that a great number of citizens sport the technique and choose a lot more than they ought to be entitled to obtain.
July 12, 2025 eight:50PM That you are 1 which will reward. Talk with your tax individual- but as I comprehend it, you can submit a new withholding type to acquire considerably less taken out OR you'll be able to assert the $6k at tax time. I’m not a professional but that’s how I study it.
There is no change while in the taxability of social stability Gains. The Invoice only provides A short lived bonus deduction of $6k for seniors sixty five+ and only earning below $75k if Single or $150k if married.
July 15, 2025 eight:04AM I receive a small pension in addition to my social security regular. I've a small expenditure account. If website I pull income out, it leads to my money to move the money Restrict and my SSI is read more taxed. Will this continue to be the case?
July 10, 2025 six:24PM How is everyone designed to rely on this Administration’s postings when they're fundamentally biased and downright misleading? Like Many others submitting on in this article, That is practically nothing but gaslighting and fanfare. The details espoused are spurious to convey the the very least.
The specifics? The freshly signed legislation is projected to further more to weaken the Social Safety method and its revenue. The SSA’s assertion is really a blatant lie and falsely misrepresents the Invoice that was signed into legislation, in addition to its harm to retirees.
Men and women proclaiming social stability Rewards that are under 65 or above People earning thresholds will see no tax reward.