Headlines
Required Minimum Distributions (RMDs) Suspended for 2020
For many seniors in their 70’s who have a retirement nest egg tucked away in a tax-advantaged savings account like an IRA or 401(k), the Required Minimum Distribution, or “RMD,” is all too familiar. The RMD is a percentage of those tax-deferred savings…
Treasury Reverses Stance on Stimulus Payments for Non-Filers
As might have been expected, the sweeping economic relief package enacted by the Government late last week has left many Americans with questions about how, and sometimes if, they will receive their “stimulus payment.” As originally announced, relief payments would be sent…
Stimulus Check Update – Information for Non-Filers
Things are moving fast at the IRS, especially in the wake of the CARES Act signed into law last Friday. As the agency scrambles to put the mechanisms in place that will deliver the economic impact payments to Americans, new…
IRS Publishes Information on How to Get Your Stimulus Payment
The IRS website now has important information about distribution of economic impact payments as a result of the CARES Act and the pandemic. The website provides detailed information on who will get a stimulus payment, how those payments will be…
Will Coronavirus Affect Social Security’s Future?
A number of assurances have been published that the U.S. actions taken to contain the so-called “Coronavirus” will not affect the normal flow of benefits to Social Security recipients. But the national economic shutdown and loss of employment resulting from it…
Stimulus Checks – Some of the Details
As reported in yesterday’s headline article, the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” passed in Congress, providing for substantial stabilization in America’s economy during the unprecedented medical crisis sweeping the country. As approved, the Act provides critically needed…
Congress Passes the “CARES Act,” Including Relief Payments to Social Security Recipients
The “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” passed today in Congress, designed to provide for substantial stabilization in America’s economy during the unprecedented medical crisis sweeping the country. As approved, the Act provides critically needed funding in…
Now is not the time to fall victim to a Social Security scam
Millions of people count on Social Security as a source of income and during times of crisis it can be even more crucial. With the announcement from the Social Security Administration that it was closing all of its local offices…
FSA to Stop Wage Garnishment, Collections Actions for Student Loan Borrowers
The Association of Mature American Citizens (AMAC) along with other consumer advocacy groups urged Education Secretary Betsy Devos to suspend the collection of defaulted federal student loans during the pandemic. In response, Education Department officials have ordered the private companies…
What is the impact of COVID-19 on Social Security?
In a very short time, the coronavirus (COVID-19) has changed the world. The impact of this virus will be felt to some degree by everyone and everything including Social Security. If you are one of the 64 million people currently…