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The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely proclaiming it gets rid of federal income taxes on most retirees’ benefits.It does so by offering an enhanced deduction for taxpayers aged 65 and more mature, guaranteeing that retirees can keep far more of the things they acquired.
Social Safety continues to be committed to offering well timed, accurate facts to the general public and may carry on Doing the job intently with federal partners to guarantee beneficiaries know how this laws might influence them.
Thus, the extra $6000 deduction and no taxes on SS usually means absolutely nothing to us. We are coping with the higher fees but have gained practically nothing Along with the passage with the BBB.
July twelve, 2025 3:20PM So generally, mainly because I’m forty three and obtain SSDI this Invoice improvements very little for me Regardless that I worked LONG Really hard hrs to receive the tiny bit of cash that I do get… for the reason that involving my spouse And that i, we do make beneath $150k a yr, but nonetheless more than enough that Element of mine is considered “taxable “
July 11, 2025 two:45PM I have noticed a change in how details is introduced by SSA. I see no particular data on how this influences me for the long run. I am 73 now and would love to see our Positive aspects not taxed. Nevertheless, it’s a “I’ll believe that it when I see it” posting.
The new regulation features a provision that gets rid of federal earnings taxes on Social Protection Advantages for the majority of beneficiaries, supplying reduction to individuals and couples.
The Monthly bill makes certain that virtually 90% of Social Stability beneficiaries will not fork out read more federal revenue taxes on their Gains, giving meaningful and rapid relief to seniors who have put in a lifetime contributing to our nation’s overall economy.
By substantially cutting down the tax stress on benefits, this legislation reaffirms President Trump’s promise to guard Social Protection and can help ensure that seniors can far better benefit from the retirement they’ve attained.”
July thirteen, 2025 6:13PM For those who and/or your wife or husband labored really hard for many years and the government took deductions for SS then Indeed, a citizen warrants the payments they promised you in retirement. Way too undesirable that countless citizens video game the method and take a lot more than they ought to be entitled to acquire.
July 12, 2025 eight:50PM You happen to be one particular that may profit. Check with your tax man or woman- but as I realize it, it is possible to submit a new withholding sort to own significantly less taken out OR you are able to assert the $6k at tax time. I’m not an authority but that’s how I study it.
There isn't any alter in the taxability of social protection Positive aspects. The bill only provides A short lived bonus deduction of $6k for seniors 65+ and only earning down below $75k if Solitary or $150k if married.
July fifteen, 2025 8:04AM I get a modest pension together with my social stability regular monthly. read more I have a little expense account. If I pull revenue out, it triggers my money to pass the profits limit and my SSI is taxed. Will this however be the case?
July 10, 2025 six:24PM How is anybody alleged to trust this Administration’s postings when they are basically biased and downright deceptive? Like others putting up on in this article, This is certainly nothing but gaslighting and fanfare. The specifics espoused are spurious to convey the the very least.
The facts? The newly signed law is projected to even more to weaken the Social Safety method and its profits. The SSA’s assertion is a blatant lie and falsely misrepresents social locker plugin for wordpress the bill which was signed into law, along with its harm to retirees.
Men and women boasting social safety Rewards who will be under sixty five or previously mentioned People earning thresholds will see no tax reward.