The SSA applauds the passing of the Big Beautiful Bill providing tax relief for Seniors.

[leftwinger]

Found this dated July 02****

Instead of eliminating taxes on Social Security benefits, the Senate's version of the Big Beautiful Bill calls for a tax break of up to $6,000 per person, which would be phased out at higher incomes.

This new deduction would apply only to individual filers 65 and older with a modified adjusted gross income of up to $75,000, or married couples up to $150,000.

It would be available to seniors whether they take the standard deduction or itemize their returns.

The exemption for those qualified is only temporary. According to the legislation, it would be effective for tax years 2025 through 2028.



**if your AGI is $74.999K you take another $7.6K off? But one dollar more in income you can't? Huh? WTH?

 

[Admiral Rockwell Tory]

Found this dated July 02****

Instead of eliminating taxes on Social Security benefits, the Senate's version of the Big Beautiful Bill calls for a tax break of up to $6,000 per person, which would be phased out at higher incomes.

This new deduction would apply only to individual filers 65 and older with a modified adjusted gross income of up to $75,000, or married couples up to $150,000.

It would be available to seniors whether they take the standard deduction or itemize their returns.

The exemption for those qualified is only temporary. According to the legislation, it would be effective for tax years 2025 through 2028.



**if your AGI is $74.999K you take another $7.6K off? But one dollar more in income you can't? Huh? WTH?

I hope you have someone else do your taxes. You don't get it.

 

[WorldWatcher]

Found this dated July 02****

Instead of eliminating taxes on Social Security benefits, the Senate's version of the Big Beautiful Bill calls for a tax break of up to $6,000 per person, which would be phased out at higher incomes.

This new deduction would apply only to individual filers 65 and older with a modified adjusted gross income of up to $75,000, or married couples up to $150,000.

It would be available to seniors whether they take the standard deduction or itemize their returns.

The exemption for those qualified is only temporary. According to the legislation, it would be effective for tax years 2025 through 2028.



**if your AGI is $74.999K you take another $7.6K off? But one dollar more in income you can't? Huh? WTH?

This is what I found.

It's written on the $4000 House version, not the Senate $6000, but I believe the phase out logic still applies.

WW
.
.
.

The 2025 Tax Bill: Additional $6,000 Deduction for Seniors, Simplified

H.R. 1 introduces a new $6,000 tax deduction for seniors, alongside extensions of key TCJA provisions. Learn how this benefit works, who qualifies, and what it could cost the federal budget.

bipartisanpolicy.org

"On top of those increases to the standard deduction, H.R. 1 would add an additional $4,000 deduction (per individual) for taxpayers over the age of 65. The $4,000 deduction would phase out at a 4% rate for single taxpayers earning more than $75,000 and married taxpayers earning more than $150,000. A single taxpayer (age 65+) earning $85,000, for example, would be eligible for an additional deduction of $3,600. The deduction would phase out entirely for single taxpayers with income above $175,000 and married taxpayers with income above $250,000."

 

[IM2]

My parents are happy.

Your parents are stupid.

 

[DukeU]

Your parents are stupid.

Says the ideology that supports free housing, food, and medical for non-citizens.

 

[MarathonMike]

You understand Bisignano, the SS administrator, is a trump appointee and therefore says what he is told to say, right?

What part of the Federal tax relief for Seniors on Social Security do you not understand? And if this SS administrator is a Trump stooge as you imply, why is the SSA fighting with DOGE? Your silly post is another fail.

 

[leftwinger]

I hope you have someone else do your taxes. You don't get it.

In General Admiral you are most always right (being X teacher).

I am pretty sure I get it, Doing my own taxes every year forever. The information out there so far is not clear.

I could go to a PC and cut/paste and show facts line by line. I can mop the floor with simple math.

APPARENTLY this $7600 old age deduction is an income deduction. Not a TAX credit. Worth ~$760 to those in the 11% bracket. In General, with all due respect.

The question is: if your gross is over $75K you don't get it?

 

[leftwinger]

This is what I found.

It's written on the $4000 House version, not the Senate $6000, but I believe the phase out logic still applies.

WW
.
.
.

The 2025 Tax Bill: Additional $6,000 Deduction for Seniors, Simplified

H.R. 1 introduces a new $6,000 tax deduction for seniors, alongside extensions of key TCJA provisions. Learn how this benefit works, who qualifies, and what it could cost the federal budget.

bipartisanpolicy.org

"On top of those increases to the standard deduction, H.R. 1 would add an additional $4,000 deduction (per individual) for taxpayers over the age of 65. The $4,000 deduction would phase out at a 4% rate for single taxpayers earning more than $75,000 and married taxpayers earning more than $150,000. A single taxpayer (age 65+) earning $85,000, for example, would be eligible for an additional deduction of $3,600. The deduction would phase out entirely for single taxpayers with income above $175,000 and married taxpayers with income above $250,000."

I see. So it may be phased in on gross income scale. Thank you and SHUP Admiral.

 

[WorldWatcher]

What part of the Federal tax relief for Seniors on Social Security do you not understand? And if this SS administrator is a Trump stooge as you imply, why is the SSA fighting with DOGE? Your silly post is another fail.

FACT #1: Income taxes paid on SS benefits are paid back to to the SSA to help fund current benefits. (First 50% of income taxes on SS Benefits + 35% going to Medicare above certain (relatively low) income trigger points.

FACT #2: If the SSA has less revenue and current benefits remain the same, then MORE funds must be drawn from the SS Trust fund to pay current benefits. That means the the exhaustion of the Trust Fund will be accelerated.

FACT #3: Barring some change in the law in the next few years, when the Trust Fund is exhausted, then SS Benefits go to Pay Go meaning that benefits will be paid only based on FICA tax revenue. The result is projected to be about a 25% reduction in SS Benefits.
.
.
.
.
I'm thinking that Seniors are going to be PISSED when they have a 25% decrease in benefits even earlier than projected.

This will also decrease revenue going to MediCare which most seniors rely on.

A tax cut as a political "Bumper Sticker" now, which will cause even more pain in a few years doesn't make sense to those of us that can see past the next election. Oh - and the tax cut expires when Trump leaves office. Convenient that isn't it.

WW

 

[leftwinger]

FACT #1: Income taxes paid on SS benefits are paid back to to the SSA to help fund current benefits. (First 50% of income taxes on SS Benefits + 35% going to Medicare above certain (relatively low) income trigger points.

FACT #2: If the SSA has less revenue and current benefits remain the same, then MORE funds must be drawn from the SS Trust fund to pay current benefits. That means the the exhaustion of the Trust Fund will be accelerated.

FACT #3: Barring some change in the law in the next few years, when the Trust Fund is exhausted, then SS Benefits go to Pay Go meaning that benefits will be paid only based on FICA tax revenue. The result is projected to be about a 25% reduction in SS Benefits.
.
.
.
.
I'm thinking that Seniors are going to be PISSED when they have a 25% decrease in benefits even earlier than projected.

This will also decrease revenue going to MediCare which most seniors rely on.

A tax cut as a political "Bumper Sticker" now, which will cause even more pain in a few years doesn't make sense to those of us that can see past the next election. Oh - and the tax cut expires when Trump leaves office. Convenient that isn't it.

WW

They can stop paying illegals the max. They can slow the phony bad back problems in SSDI.
They can stop paying all the phantom fraud numbers DOGE found?

Then get back to us.

 

[WorldWatcher]

In General Admiral you are most always right (being X teacher).

I am pretty sure I get it Done my own taxes every year forever. The information out there so far is not clear.

I could go to a PC and cut/paste and show facts line by line. I can mop the floor with simple math.

APPARENTLY this $7600 old age deduction is an income deduction. Not a TAX credit. Worth $760 to those in the 11% bracket. In General, with all due respect.

The question is: if your gross is over $75K you don't get it?

I've pointed this out to others in these discussions, where some are confusing Tax Credit with Tax Deduction. Credit's come directly off of taxes, deductions lower AGI so that the actual dollars in pocket are significantly less than the stated amount.

A $6000 dollar deduction for AGI with a combined (Federal & State) effective tax rate of 25% will have about $1500 in income taxed. (NOTE: This assumes other sources of income used to maintain a standard of living such as Pension, 401K withdrawals, working, investments, etc.)

WW

 

[toomuchtime_]

You understand Bisignano, the SS administrator, is a trump appointee and therefore says what he is told to say, right?

Spoken like a true Democrat who is ready to oppose anything President Trump does even if he doesn't understand it.

 

[WorldWatcher]

They can stop paying illegals the max. They can slow the phony bad back problems in SSDI.

Illegals don't draw SS Retirement or SSDI, you have to be here legally. As a matter of fact Illegals pay Billions into SS they will never be able to draw.

SS Retirement and SS Disability are different trust funds.

They can stop paying all the phantom fraud numbers DOGE found?

You mean like the millions that were over 120 years old that was a totally bullshit claim?

Then get back to us.

Information already shared.

Hope it helps you think through the issues.

WW

 

[TimFitz]

Yes, the SSA has officially endorsed the passing of the BBB particularly for NO FEDERAL TAX ON SOCIAL SECURITY BENEFITS for all but the wealthiest recipients.

WINNING!!

Social Security Applauds Passage of Legislation Providing Historic Tax Relief for Seniors | SSA

The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.

blog.ssa.gov

Since when did Federal agencies comment publicly on political issues?

I realize that SSA is currently under the thumb of a Trump stooge.

I also have no doubt that the Trump regime will do nothing to address the program’s long term fiscal issues. Thst would require too much work and brains.

 

[leftwinger]

Illegals don't draw SS Retirement or SSDI, you have to be here legally. As a matter of fact Illegals pay Billions into SS they will never be able to draw.

SS Retirement and SS Disability are different trust funds.



You mean like the millions that were over 120 years old that was a totally bullshit claim?



Information already shared.

Hope it helps you think through the issues.

WW

I've pasted from online SS where SS is paid to illegals. Even if never worked. They can use 40 quarters of household resident to qualfy..

Not to mention all those on SSDI fraudulently signed up by NGO doctors or however they get on. SS numbers given to non-citizens.

 

[TimFitz]

The stupidity of democrats is on display.

What makes social security fall short is the extreme high prices the democrats inflicted on the American people.

Extreme prices benefit the super rich. When stuff costs more the rich make a fortune off the poor. Democrats did that

When things are extremely expensive, social security checks become almost worthless

Payments will fall short, which is because the democrats have spent all the money in the social security trust fund.

There has been no money in security this entire century! democrats did this, not Trump.

democrats spent all the money instead of investing the money, democrats did this

Trump, democrats bankrupted our country. We are broke, now, not tomorrow, now because of out of control spending since the last century by democrats

Every bit of this is made up BS.

 

[Edgetho]

All of the Democrats voted against it.
That might hurt them in the midterm election.

Yeah, with 60 Million Americans over the age of 65 it might.

You break your ass for 45 - 50 years, pay after-tax money into Social Security, if you're smart you have a Retirement Fund of some kind but when you want to draw money from your IRA, it puts you over the Income Tax Threshold and the IRS sticks it up your butt. Without any lube.

The OBBB affects me, and millionss of retired Americans, in that now, when I take money out of my IRA, I only have to pay Tax on THAT money and NOT on Social Security money. Which has already been taxed because it was taken out of my paycheck AFTER it was taxed. The Employer Contribution wasn't, but we could use a break every now and then.

This affects me in that now, maybe, just MAYBE I can build a small house on my little Hobby Farm in SW Michigan and get out of Florida. It's like Little Brooklyn down here anymore. I can't recommend it to you.

Florida has become everything I ran away from 50 years ago. Well, not THAT bad, but it's getting there. It's Wall-To-Wall sphincters down here. Masses of humanity. Mostly short, little dumpy females hauling their worthless spawn to and from school or Sportsdork bullshit...... When they're not NASCAR Racing on their way to the Mall for the latest sale or pushing into you with their Shopping Carts at the Grocery store. And it's exacerbated by the fact that Florida wasn't the recipient of the Depression Era "Make-Work" projects. We don' thave that many roads. And it's not easy to build roads down here. Swamps & Alligators 'n shit

Florida has been very good to me. I will always have a special place in my heart for Florida.

But....... I'm over it.

Too many people.

The OBBB may just be my saviour. We'll see

 

[elektra]

Every bit of this is made up BS.

You are right, every bit of the crisis in America is made by the democrats

 

[TimFitz]

If your SS is $3500/mo that is $42,000*85% (was~$35K taxable).

Do they still declare SS. 85% as income? Huh? New STD deduction + old wipes it all out but already did mostly?

If you have other income, that will be taxed like always?

I see no "ELIMINATION" of tax on SS.

Obviously not. it’s a cynical lie.

 

[leftwinger]

Yeah, with 60 Million Americans over the age of 65 it might.

You break your ass for 45 - 50 years, pay after-tax money into Social Security, if you're smart you have a Retirement Fund of some kind but when you want to draw money from your IRA, it puts you over the Income Tax Threshold and the IRS sticks it up your butt. Without any lube.

The OBBB affects me, and millionss of retired Americans, in that now, when I take money out of my IRA, I only have to pay Tax on THAT money and NOT on Social Security money. Which has already been taxed because it was taken out of my paycheck AFTER it was taxed. The Employer Contribution wasn't, but we could use a break every now and then.

This affects me in that now, maybe, just MAYBE I can build a small house on my little Hobby Farm in SW Michigan and get out of Florida. It's like Little Brooklyn down here anymore. I can't recommend it to you.

Florida has become everything I ran away from 50 years ago. Well, not THAT bad, but it's getting there. It's Wall-To-Wall sphincters down here. Masses of humanity. Mostly short, little dumpy females hauling their worthless spawn to and from school or Sportsdork bullshit...... When they're not NASCAR Racing on their way to the Mall for the latest sale or pushing into you with their Shopping Carts at the Grocery store. And it's exacerbated by the fact that Florida wasn't the recipient of the Depression Era "Make-Work" projects. We don' thave that many roads. And it's not easy to build roads down here. Swamps & Alligators 'n shit

Florida has been very good to me. I will always have a special place in my heart for Florida.

But....... I'm over it.

Too many people.

The OBBB may just be my saviour. We'll see

Are you certain SS is not taken out of paychecks pre tax at 6.2% of your gross earnings? Matched by 6.2% employer? You better look again.