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The Social Protection Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely saying it eliminates federal profits taxes on most retirees’ Positive aspects.

It does so by giving an Improved deduction for taxpayers aged sixty five and older, guaranteeing that retirees can preserve additional of what they attained.

Social Stability continues to be committed to delivering well timed, correct info to the general public and will proceed working closely with federal companions to guarantee beneficiaries know how this laws could have an effect on them.

Thus, the extra $6000 deduction and no taxes on SS means Completely nothing to us. We're managing the higher costs but have been given nothing Using the passage with the BBB.

July 12, 2025 3:20PM So basically, since I’m 43 and receive SSDI this Invoice changes very little for me Though I worked Lengthy Tough several hours to get paid the minimal little bit of money which i do get… for the reason that involving my spouse And that i, we do make underneath $150k a yr, but still plenty of that Component of mine is taken into account “taxable “

July 11, 2025 2:45PM I've discovered a variation in the way in which info is introduced by SSA. I see no certain data on how this has an effect on me for the long term. I am 73 now and would like to see our Gains not taxed. Even so, it’s a “I’ll think it After i see it” write-up.

The new law features a provision that removes federal cash flow taxes on Social Stability benefits for most beneficiaries, delivering relief to people and partners.

The Invoice makes certain that nearly ninety% of Social Security beneficiaries will not pay federal cash flow taxes on their Added benefits, delivering significant and immediate relief to seniors who may have expended a life span contributing to our nation’s economy.

By drastically reducing the tax burden on Advantages, this legislation reaffirms social locker plugin for wordpress President Trump’s assure to protect Social Safety and aids be certain that seniors can improved take pleasure in the retirement they’ve attained.”

July 13, 2025 6:13PM When you and/or your wife or husband labored really hard for many years and the government took deductions for SS then Indeed, a citizen justifies the payments they promised you in retirement. As well poor that so many citizens sport the technique and take greater than they ought to be entitled read more to obtain.

July 12, 2025 8:50PM You might be one which will profit. Speak with your tax particular person- but as I comprehend it, you can submit a brand new withholding kind to obtain much less taken out OR you'll be able to declare the $6k at tax time. I’m not an authority but that’s how I read it.

There's no transform from the taxability of social protection Rewards. The Monthly bill only offers A brief reward deduction of $6k for seniors sixty five+ and only earning under $75k if Single or $150k if married.

July 15, 2025 8:04AM I get a compact pension as well as my social security regular monthly. I have a little investment decision account. If I pull dollars out, it causes my earnings to pass the income limit and my SSI is taxed. Will this continue to be the case?

July 10, 2025 six:24PM How is anybody speculated to have confidence in this Administration’s postings when they're basically biased and downright deceptive? Like Many others publishing on below, This is certainly very little but gaslighting and fanfare. The specifics espoused are spurious to mention the the very least.

The information? The freshly signed law is projected to additional to weaken the Social Stability method and its revenue. The SSA’s assertion can be a blatant lie and falsely misrepresents the Invoice that was signed into legislation, and its hurt to retirees.

People today proclaiming social security Added benefits who are below sixty five or over those earning thresholds will see no tax gain.