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

It does so by giving an enhanced deduction for taxpayers aged 65 and more mature, ensuring that retirees can retain far more of what they acquired.

Social Protection stays dedicated to providing well timed, precise information and facts to the general public and can keep on working intently with federal companions to be certain beneficiaries know how this legislation may perhaps affect them.

For that reason, the extra $6000 deduction and no taxes on SS indicates Unquestionably very little to us. We're coping with the upper costs but have received very little Together with the passage from the BBB.

July twelve, 2025 3:20PM So in essence, for the reason that I’m 43 and obtain SSDI this Monthly bill modifications almost nothing for me While I worked Extended Tough hrs to receive the little bit of cash that I do get… simply because amongst my husband and I, we do make beneath $150k a yr, but nonetheless sufficient that Portion of mine is considered “taxable “

July 11, 2025 two:45PM I've found a variance in just how information and facts is presented by SSA. I see no precise knowledge on how this impacts me for the long term. I am 73 now and would love to see our benefits not taxed. On the other hand, it’s a “I’ll feel it when I see it” report.

The new legislation features a provision that removes federal profits taxes on Social Security Gains for some beneficiaries, delivering relief to people today and partners.

The Invoice makes certain that nearly ninety% of Social Safety beneficiaries will not spend federal profits taxes on their own Rewards, offering significant and rapid relief to seniors who definitely have spent a lifetime contributing to our nation’s economic climate.

By substantially decreasing the tax stress on Rewards, this legislation reaffirms President Trump’s promise to protect Social Security and aids be certain that seniors can better enjoy the retirement they’ve attained.”

July thirteen, 2025 6:13PM In the event you and/or your spouse labored hard for decades and the government took deductions for SS then YES, a citizen justifies the payments they promised you in retirement. Way too terrible that a lot of citizens game the procedure and choose much more than they should be entitled to receive.

July 12, 2025 eight:50PM You're one that can benefit. Discuss with your tax man or woman- but as I realize it, you may submit a fresh withholding type to obtain a lot less taken out OR you are able to assert the $6k at tax time. I’m not an expert but that’s how I study it.

There is no modify from the taxability of social safety Advantages. The Invoice only presents A short lived bonus deduction of $6k for seniors 65+ and only earning beneath $75k if One or $150k if married.

July fifteen, 2025 eight:04AM I receive a little pension in conjunction with my social protection month to month. I've more info a small investment decision account. If I pull income out, it will cause my earnings to move the earnings Restrict and my SSI is taxed. Will this nonetheless be the case?

July read more 10, 2025 6:24PM How is any person purported to belief this Administration’s postings when they're fundamentally biased and downright misleading? Like Some others posting on right here, This is often absolutely nothing but gaslighting and fanfare. The facts espoused are spurious to state the least.

The points? The freshly signed law is projected to even further to weaken the Social Stability system and its income. The SSA’s statement is usually a blatant lie and falsely misrepresents the Monthly bill that was signed into legislation, together with its damage to retirees.

Folks saying social stability Added benefits who will be underneath sixty five or above Those people earning thresholds will see no tax profit.