Hey Everyone,

As some of you may know, there’s been a lot of misinformation circulating about the taxation of Social Security benefits. A common misconception is that the “Big Beautiful Bill” (BBB) eliminates taxes on Social Security. This claim is not accurate.

Here’s the official statement from the White House regarding the issue:

MYTH: The One Big Beautiful Bill “doesn’t actually end taxes on Social Security.”

FACT: The One Big Beautiful Bill provides historic tax relief to seniors through a new tax deduction that, when combined with other deductions, ensures that the average Social Security beneficiary will pay zero taxes on their Social Security benefits.

While this sounds promising, there’s a critical point to consider. The new $6,000 tax deduction could lower taxable income for some retirees, particularly those with lower incomes, potentially bringing them below the tax threshold. However, many seniors will still remain above the threshold, meaning they will continue to pay taxes on their Social Security benefits.

In essence, the BBB does not eliminate taxes on Social Security for all seniors.

So, in fact, the myth should be stated as the fact. Here’s a more accurate portrayal:

FACT: The One Big Beautiful Bill doesn’t actually end taxes on Social Security.

It’s important to understand the nuances of tax policy so that we can make informed decisions and avoid falling for misleading claims. While some seniors may benefit from reduced taxes, the overall claim that taxes on Social Security are eliminated is simply not true.