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The Social Stability Administration is spreading misinformation about Trump’s reconciliation bill, falsely claiming it eradicates federal income taxes on most retirees’ benefits.

It does so by supplying an Improved deduction for taxpayers aged sixty five and more mature, making certain that retirees can hold far more of the things they earned.

Social Safety remains devoted to furnishing timely, exact information to the public and will carry on Operating closely with federal associates to be certain beneficiaries know how this laws might have an effect on them.

As a result, the extra $6000 deduction and no taxes on SS usually means absolutely absolutely nothing to us. We are handling the higher expenses but have obtained nothing Using the passage from the BBB.

July 12, 2025 3:20PM So generally, because I’m 43 and acquire SSDI this bill adjustments nothing at all for me Although I labored Lengthy Tough hours to receive the very little bit of money that I do get… simply because in between my husband and I, we do make beneath $150k a 12 months, but still enough that Element of mine is considered “taxable “

July eleven, 2025 2:45PM I've noticed a difference in how facts is introduced by SSA. I see no specific knowledge on how this has an effect on me for the long run. I'm 73 now and would like to see our Rewards not taxed. Nonetheless, it’s a “I’ll consider it when I see it” posting.

The brand new law features a provision that removes federal revenue taxes on Social Security Advantages for the majority of beneficiaries, furnishing aid to people and couples.

The Monthly bill makes certain that approximately 90% of Social Stability beneficiaries website will now not pay back federal revenue taxes on their benefits, supplying significant and speedy aid to seniors who've spent a lifetime contributing to our nation’s overall economy.

By drastically decreasing the tax stress on Added benefits, this legislation reaffirms President Trump’s assure to shield Social Protection and can help make sure seniors can better benefit from the retirement they’ve earned.”

July thirteen, 2025 six:13PM In case you and/or your wife or husband labored difficult for decades and the government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. Much too negative that a great number of citizens match the system and take more than they ought to be entitled to obtain.

July twelve, 2025 8:50PM You are just one which will profit. Speak to your tax individual- but as I understand it, you could submit a different withholding variety to obtain significantly less taken out OR you may claim the $6k at tax time. I’m not an expert but that’s how I read through it.

There isn't a change inside the taxability of social safety Advantages. The Invoice only offers a temporary bonus deduction of $6k for seniors sixty five+ and only earning underneath $75k if One or $150k if married.

July 15, 2025 8:04AM I receive a little pension coupled with my social protection month-to-month. I have a little financial investment account. If I pull revenue out, it causes my profits to pass the income Restrict and my SSI is taxed. Will this continue to be the situation?

July ten, 2025 6:24PM How is any individual alleged to have confidence in this Administration’s postings when they're fundamentally biased and downright deceptive? Like Other individuals submitting on in this article, That click here is nothing at all but gaslighting and fanfare. The specifics espoused are spurious to mention the least.

The facts? The newly signed law is projected to further to weaken the Social Protection program and its revenue. The SSA’s statement is really a blatant lie and falsely misrepresents the Monthly bill that was signed into regulation, and its hurt to retirees.

Folks proclaiming social protection Positive aspects who're get more info less than 65 or over These earning thresholds will see no tax profit.