The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely boasting it eradicates federal money taxes on most retirees’ Gains.

It does so by furnishing an Increased deduction for taxpayers aged 65 and older, making certain that retirees can keep more of what they gained.

Social Safety remains committed to delivering timely, exact information and facts to the public and can continue Functioning carefully with federal partners to make sure beneficiaries understand how this laws may perhaps have an effect on them.

For that reason, the additional $6000 deduction and no taxes on SS means Completely almost nothing to us. We are dealing with the higher expenses but have been given practically nothing with the passage in the BBB.

July 12, 2025 three:20PM So generally, because I’m 43 and get SSDI this bill alterations almost nothing for me Although I worked LONG HARD several hours to get paid the minimal little bit of cash that I do get… since involving my partner and I, we do make less than $150k a year, but nevertheless more than enough that Element of mine is taken into account “taxable “

July eleven, 2025 two:45PM I've recognized a big difference in the way facts is presented by SSA. I see no particular facts on how this impacts me for the long term. I am 73 now and would like to see our Advantages not taxed. However, it’s a “I’ll feel it when I see it” report.

The brand new regulation features a provision that gets rid of federal revenue taxes on Social Stability Advantages for most beneficiaries, providing reduction to folks and couples.

The Monthly bill makes certain that approximately ninety% of Social Stability beneficiaries will now not fork out federal money taxes on their own Positive aspects, offering meaningful and speedy relief to seniors who've used a life time contributing to our nation’s financial state.

By substantially reducing the tax load on Advantages, this laws reaffirms President Trump’s promise to guard Social Safety and aids make sure that seniors can much better benefit from the retirement they’ve gained.”

July 13, 2025 six:13PM In the event you and/or your husband or wife read more labored tough for many years and The federal government took deductions for SS then Sure, a citizen justifies the payments they promised you in retirement. Also lousy that more info countless citizens sport the program and take more than they ought to be entitled to receive.

July 12, 2025 8:50PM That you are 1 that will benefit. Talk with your tax man or woman- but as I understand it, you are able to submit a fresh withholding kind to have fewer taken here out OR you may assert the $6k at tax time. I’m not a professional but that’s how I browse it.

There is no change in the taxability of social security Advantages. The Invoice only presents A short lived bonus deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.

July fifteen, 2025 8:04AM I receive a little pension along with my social safety monthly. I have a little expense account. If I pull dollars out, it triggers my earnings to go the earnings Restrict and my SSI is taxed. Will this continue to be the situation?

July 10, 2025 6:24PM How is any one purported to belief this Administration’s postings when they are fundamentally biased and downright misleading? Like Other individuals putting up on in this article, This can be very little but gaslighting and fanfare. The points espoused are spurious to convey the the very least.

The info? The freshly signed law is projected to even further to weaken the Social Protection method and its profits. The SSA’s statement is a blatant lie and falsely misrepresents the Monthly bill which was signed into regulation, and also its hurt to retirees.

People today saying social protection benefits that are under sixty five or previously mentioned All those earning thresholds will see no tax gain.