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The Social Stability Administration is spreading misinformation about Trump’s reconciliation Invoice, falsely professing it eliminates federal profits taxes on most retirees’ Gains.

It does so by giving an Increased deduction for taxpayers aged 65 and older, guaranteeing that retirees can maintain far more of whatever they acquired.

Social Safety continues to be committed to delivering well timed, precise info to the public and may carry on Doing work intently with federal associates to ensure beneficiaries understand how this legislation may impact them.

For that reason, the extra $6000 deduction and no taxes on SS usually means Totally practically nothing to us. We're dealing with the upper charges but have received nothing With all the passage on the BBB.

July twelve, 2025 three:20PM So mainly, since I’m 43 and receive SSDI this bill adjustments very little for me Despite the fact that I labored LONG Challenging hours to receive the small little bit of cash that I do get… because between my spouse And that i, we do make underneath $150k a yr, but still enough that Element of mine is taken into account “taxable “

July eleven, 2025 2:45PM I have recognized a variance in just how facts is offered by SSA. I see no specific data on how this impacts me for the long run. I'm 73 now and would love to see our Rewards not taxed. However, it’s a “I’ll believe that it Once i see it” post.

The brand new law includes a provision that removes federal income taxes on Social Protection Rewards for some beneficiaries, offering aid to men and women and couples.

The Invoice makes certain that approximately ninety% of Social Security beneficiaries will not shell out federal revenue taxes on their Gains, delivering significant and quick aid to seniors who've used a life span contributing to our nation’s overall economy.

By substantially cutting down the tax load on benefits, this legislation reaffirms President Trump’s guarantee to shield Social Protection and helps be certain that seniors can much better take pleasure in the retirement they’ve attained.”

July 13, 2025 6:13PM If you and/or your wife or husband labored really hard for decades and The federal government took deductions for SS then Certainly, a citizen justifies the payments they promised you in retirement. Also undesirable that countless citizens game the method and just take a lot more than they need to be entitled to get.

July 12, 2025 8:50PM You will be 1 which will benefit. Check with your tax individual- but as I know it, you are able to submit a new withholding form to obtain significantly less taken out OR you may declare the $6k at tax time. I’m not a professional but that’s how I study it.

There is not any improve while in the taxability of social stability Gains. The Invoice only gives A short lived bonus deduction of $6k for seniors sixty five+ and only earning beneath $75k if Solitary or $150k if married.

July 15, 2025 8:04AM I receive a compact pension in conjunction with my social security regular. I've a little financial commitment account. If I pull revenue out, it brings about my money to go the income Restrict and my SSI is taxed. Will this continue to be the situation?

July ten, 2025 six:24PM How is anyone designed to believe in this Administration’s postings when they are fundamentally biased and downright deceptive? Like others submitting on listed here, This really is almost nothing but gaslighting and fanfare. The points espoused are spurious to convey the minimum.

The details? The newly signed law is projected to even more get more info to weaken the Social Safety plan and its earnings. The SSA’s statement is actually a blatant lie and falsely misrepresents the Monthly bill that was signed into law, along with its damage click here to retirees.

Folks declaring social stability Positive aspects who are less than 65 or over People earning thresholds will see no tax reward.