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IRS Releases Guidance on Refunds of Overcollected Social Security and Medicare Taxes
The Internal Revenue Service has released a notice that provides guidance to employers on the requirements for employee consents used by an employer to support a claim for refund of over-collected Social Security tax and Medicare tax. Notice 2015-15, which contains…
Retirement to be a Bust for Free-Spending Baby Boomers
Baby boomers are consumers, not savers, especially when it comes to funding retirement, a new report confirms. “The retirement savings shortfalls show that for those on the verge of retirement, the deficits vary from $19,304 per individual in married households, increasing…
This Is What Retiring Abroad Looks Like
Forget Florida and Arizona. When it comes to retirement, a growing number of Americans are opting to relocate abroad, to places with fabulous weather, stunning scenery, a lower cost of living and welcoming colonies of like-minded people. More than 550,000…
Retirement Milestones to Look Forward To
Retirement is a transition into a new stage of life. Retirees get the freedom to choose how to spend their time, but they also walk away from the comfort of a steady paycheck and need to make important financial decisions.…
TSP balance tops $113k: Are you smart, lucky or both?
When it comes to prepping for retirement, federal workers are doing much better than their private sector counterparts. For instance: When they retire from the government, workers are guaranteed a lifetime annuity with the option to provide a survivor benefit.…
The argument for a basic income
Earlier this year, I visited a town where residents are cut a check just for being alive. It’s not some Scandinavian utopia. It’s not part of some holdout communist state. It’s Cherokee, North Carolina, a town of 8,000 hidden away…
Take the time now to check Social Security earnings
f you haven’t looked up the earnings record that Social Security has recorded for you, there is no better time than now. Why bother? For one thing, you’ll want to check for errors. “This is important because an individual’s future benefit amount…
New Procedure For Some Blindness Cases
Social Security has finally devised a procedure for dealing with claimants who are working and who allege that they have become statutorily blind while already on disability benefits without regard to blindness. Different standards apply to work activity in blindness…
THE REGULARS: America’s working class continues falling behind
There is no question low wages are one of the primary reasons why America’s working class is falling further and further behind. Trying to raise a family and earn a living making $8 to $10 an hour is virtually impossible…
White House looking to creep into 401(k)s
Last Monday, with Sen. Elizabeth Warren (D-Mass.) at his side, President Obama attacked Wall Street, again, for essentially helping in what the federal government and businesses can no longer provide — a decent retirement. Under the false pretense of calling for…