The Social Protection Administration is spreading misinformation about Trump’s reconciliation bill, falsely declaring it eradicates federal cash flow taxes on most retirees’ benefits.
It does so by giving an enhanced deduction for taxpayers aged 65 and more mature, ensuring that retirees can hold more of the things they acquired.
Social Stability remains devoted to delivering well timed, exact details to the general public and can continue Functioning carefully with federal companions to make certain beneficiaries understand how this legislation may possibly have an affect on them.
Consequently, the additional $6000 deduction and no taxes on SS indicates Unquestionably nothing to us. We are coping with the higher expenses but have acquired almost nothing with the passage from the BBB.
July twelve, 2025 three:20PM So mainly, simply because I’m forty three and receive SSDI this Monthly bill changes absolutely nothing for me Although I labored LONG HARD several hours to get paid the little little bit of money which i do get… for the reason that involving my husband And that i, we do make beneath $150k a year, but nonetheless adequate that A part of mine is taken into account “taxable “
July 11, 2025 two:45PM I have found a big difference in the way in which information and facts is offered by SSA. I see no particular data on how this impacts me for the long term. I am 73 now and would like to see our Added benefits not taxed. Nonetheless, it’s a “I’ll feel it when I see it” short article.
The new regulation includes a provision that gets rid of federal income taxes on Social Stability Rewards for some beneficiaries, supplying reduction to people today and couples.
The Monthly bill makes certain that almost ninety% of Social Stability beneficiaries will not fork out federal money taxes on their Positive aspects, providing meaningful and fast aid to seniors who've invested a life time contributing to our country’s financial system.
By noticeably minimizing the tax burden on Added benefits, this laws reaffirms President Trump’s assure to safeguard Social Protection and can help make sure seniors can much better benefit from the retirement they’ve earned.”
July 13, 2025 6:13PM In case you and/or your wife or husband labored really hard for many years and The federal government took deductions for SS then Sure, a citizen justifies the payments they promised you in retirement. Also undesirable that countless citizens match the procedure and get in get more info excess of they must be entitled to acquire.
July twelve, 2025 8:50PM You're 1 that can advantage. Talk to your tax person- but as I know it, you could submit a different withholding variety to own considerably less taken out OR you'll be able to assert the $6k at tax time. I’m not an authority but that’s how I read it.
There is not any transform inside the taxability of social stability social locker plugin Positive aspects. The bill only offers a temporary bonus deduction of $6k for seniors sixty five+ and only earning under $75k if One or $150k if married.
July 15, 2025 eight:04AM I get a smaller pension together with my social stability month to month. I've a little expenditure account. If I pull cash out, it will cause my income to move the money Restrict and my SSI is taxed. Will this nevertheless be the situation?
July ten, 2025 6:24PM How is everyone supposed to have faith in this Administration’s postings when they're essentially biased and downright misleading? Like Some others publishing on right here, That is very little but gaslighting and fanfare. The information espoused are spurious to state the minimum.
The points? The newly signed law is projected to even more to weaken the Social Protection method and its earnings. The SSA’s assertion social locker plugin is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into law, as well as its harm to retirees.
Folks boasting social protection Gains who will be under sixty five or higher than those earning thresholds will see no tax benefit.