Social Security Report

If you owe Uncle Sam money, they could take it from your Social Security check

Nearly 50% of retired couples and over 70% of single retirees depend on Social Security for about half of their retirement income, and nearly all recipients depend, to at least some degree, on their benefit to make ends meet. Be aware then that if you owe Uncle Sam money for a delinquent student loan, unpaid income taxes, or any other debts to a list of Federal agencies, repayment could come in the form of garnishing your Social Security benefit.  This CNBC article by Kelli B. Grant explains that if you’re counting on Social Security benefits, you better make sure you don’t owe Uncle Sam.  Click here to read more.

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