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What are the benefits if you wait until age 70 to begin collecting Social Security
One of the most important retirement decisions you’ll make is figuring out when you should start collecting your Social Security benefits. Like most things in life, timing is everything. Delaying your benefits can make your monthly payment larger, but that’s easier…
A Tool to Track Stimulus Payment to Prevent Fraud
Ashley Moody, Florida Attorney General, issued an advisory to folks who have not already received an economic impact payment (stimulus payment) from the IRS, noting that the agency has released a new tool to help Floridians avoid stimulus-related fraud. Labeled…
What about a payroll tax holiday?
Sean Williams of The Motley Fool is highly critical of an idea that President Trump has floated about eliminating the 6.2% payroll tax on employers and employees for the remainder of the year. Congress did pass this very idea in 2010…
NEW: Government clarifies SSI recipients WILL get stimulus payments automatically
First, some background: the main difference between Social Security Disability (SSDI) and Supplemental Security Income (SSI) is that SSDI is available to workers who have accumulated sufficient work credits, while SSI is strictly need-based, based on income and assets, and is…
Breaking News – IRS “Get My Payment Link” now active
The IRS site is now up and running as it pertains to the Stimulus bill. Check on the status of your Economic Impact Payment by clicking here.
What Social Security recipients (and others) can do to pass the time
While Social Security recipients may be viewed as luckier than others during this pandemic in that they haven’t lost a job or suffered any cuts in benefits, stay at home orders have nonetheless made many anxious. We at Social Security…
Most but not all Social Security recipients to get automatic stimulus deposits
Most recipients of Social Security benefits need do nothing to get a $1,200 stimulus payment directly deposited into their accounts, assuming they otherwise are within the income guidelines. Deposits began hitting accounts this past weekend. However, the following three groups…
Slowing Covid-19 will negatively impact the Social Security program
There’s no understating the problem. Social Security was already due to run a deficit in 2020 and to continue doing so until 2034-35. All reserves would be exhausted then and necessitate across the board cuts of 20-23% for all. With millions…
Easter Greetings from the AMAC Foundation
On behalf of the Social Security Report Editorial Staff, I’d like to wish all of our site visitors a peaceful and happy Easter Season. We all extend our wishes for continued goodwill in the weeks ahead, and for the safety…
IRS Releases Guidance for Non-Filers to Provide Information for Stimulus Payments
Information on the “web portal” promised by the IRS for individuals who have not filed tax returns in 2018 or 2019 was released late yesterday in an announcement from the U.S. Department of the Treasury and the Internal Revenue Service. “The ‘Non-Filers:…