Headlines
The Public Servants Protection and Fairness Act of 2021
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Richard E. Neal (D-MA), chairman of the House Committee on Ways and Means reintroduced the Public Servants Protection and Fairness Act of 2021. This act “will fix the Windfall Elimination Provision (WEP) for future retirees and provide meaningful relief to…
Americans are under-saving for their retirement
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Americans are not saving enough or are under-saving for their retirement. A recent PwC’s Retirement report found “one in four Americans have no retirement savings and those who are saving aren’t saving enough.” According to Bernadette Geis, PwC’s US Asset…
IRS extends deadlines for some taxpayers
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The Internal Revenue Service (IRS) announced it is extending the deadline to file Form 1040 series returns to May 17, the IRS is automatically postponing to the same date the time for individuals to make 2020 contributions to their individual…
Confused about spousal benefits?
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One of the most misunderstood Social Security benefits is the spousal benefit. The spousal benefit can be as much as half of the worker’s “full retirement-age” amount” However, if the spouse begins receiving benefits before “normal (or full) retirement age,”…
Too big of a nest egg?
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Could your retirement nest egg be too big? How do we define “too big”? According to Ray E. LeVitre, Investment Adviser, CFP, writes “your portfolio is “too big” when you have accomplished all of your retirement objectives and still have…
Stimulus Update: SSA Responds to Criticism Re: EIPs
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Social Security Administration Commissioner Andrew Saul, in a payment posted on SSA’s blog page, responded to the assertion of delays in forwarding processing information to the IRS to enable delivery of Economic Impact Payments (EIPs) authorized in the American Recovery…
Stimulus Update: Social Security Recipients still Waiting
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The finger-pointing is escalating, as the Social Security Administration draws criticism from the chair of the House Ways & Means Committee, Rep. Richard Neal . Yesterday, the IRS reported disbursement of an additional 37 million economic impact payments (EIPs), but with…
Social Security Benefits: Some Thoughts on Optimal Planning
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Maximizing benefits from Social Security requires quite a bit of careful planning, coupled with a pretty solid understanding of how the system actually works. Regularly checking websites like this one, and investigation news reports cited here, is a good step…
Stimulus Check Scams – Three Red Flags!
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Scammers are crooks who commit or participate in fraudulent schemes to steal money or identities. They are increasingly on the prowl now as the third round of Economic Impact Payments, sometimes called stimulus checks, are being released by the government…
Strategies to Potentially Mitigate the Taxation of Your Social Security Benefit
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Many have held the opinion that federal taxation of Social Security benefits is nonsensical double taxation, resulting in unfair curtailment of the retirement benefits that seniors have worked for and that they’ve been promised. Adding to this displeasure is the simple…