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Lost Your SSA-1099 or SSA-1042S?
Tax season is here, and you’re probably starting to think about gathering up the forms and statements needed to file your return for the 2020 tax year. This is about the time many folks realize they may have misplaced key documents, like their…
Social Security: It Isn’t Just for Retirement, You KNow
Although the rules can be at times difficult to comprehend, it’s essential that the areas of spousal benefits, survivor benefits, parental benefits, disability benefits, and even Supplemental Security Income (SSI) benefits deserve a second look to ensure that you are…
Hearings with the Social Security Administration During COVID-19
Source: Social Security Administration In March 2020, we temporarily closed all of our Social Security Hearing Offices due to the Coronavirus pandemic and are not offering in-person hearings. During the office closures, we are providing two flexible, safe, and secure…
Social Security’s Solvency Issue: The Real Reason to Worry
One of the most persistent misunderstandings about the future of Social Security is the issue of the program going bankrupt, broke, or just plain gone. That’s not the real long-term problem, since as long as there’s a workforce paying FICA…
Turning 70 soon? What you need to do.
Anyone reaching age 70 without claiming Social Security retirement benefits is in a great position. Achieving this milestone this way means you’ve maximized the monthly benefit amount. But it also means the delayed retirement credits will stop, so now would…
Those Social Security Myths (Lies), Again
Some things just won’t go away, like the rumor that keeps resurfacing that Social Security is on a path toward bankruptcy. There are several others that keep circulating, and at the AMAC Foundation’s Social Security Advisory Service, we’ve handled most–maybe…
Stimulus Payments and Your Social Security Taxability
As the tax season unfolds around us, many seniors have a question about what the impact of those stimulus checks will be on their net Social Security benefits. Rest easy…these payments do not affect what Social Security calls your “provisional…
What is the appeal process for original Medicare?
If Medicare denies coverage for any service, you may appeal their decision. The appeals process involves five levels so if you do not win on the first level, you may move on to the second. So what are the reasons…
Options for preserving the value of IRAs
A report from the Congressional Research Service found while only a small percentage of individual retirement account holders take early withdrawals from those savings annually, such withdrawals can have long-term impact on their retirement savings. They estimate the so-called “leakage”…
Why having an emergency fund will help you save more for retirement
One thing 2020 taught us is how important it is to have an emergency fund. Unfortunately around 25 percent of US adults say they have no emergency savings at all, according to GOBankingRates, while more than 23 percent say they…