Latest News
Advice From the IRS to Expedite Your Stimulus Payment
Most of the remaining economic impact (stimulus) payments will be in the form of paper checks, but there is still an opportunity to get a check via direct deposit. Forbes senior contributor Kelly Phillips Erb, in a post on forbes.com, explains…
SSA Provides Updated Guidance on COVID-19 Impact Payments
The Social Security Administration late yesterday provided an update on the question “How do I get my COVID-19 economic impact payment?” The announcement includes an update to their document ” Economic Impact Payments for Social Security and SSI Recipients – Steps to…
The Importance of Knowing (and Considering) Your FRA When Pondering Filing for Social Security
Surprisingly, many folks approaching Social Security eligibility are not clear on what their full retirement age (FRA) actually is. But more importantly, many folks are also not aware of the impact their FRA has on their ultimate level of benefits.…
Incorrect Social Security Information Cited as Contributing to Unemployment Debacle
Many states are grappling with the unprecedented demand for unemployment compensation in the wake of the COVID-19 pandemic, and it isn’t hard to believe that many of the claims remain unpaid as processing problems crop up. And in at least…
Why So Many Aren’t Able to Accumulate That “Nest Egg”
Almost 70% of workers surveyed by Employee Benefit Research Institute report that their level of short-term (non mortgage) debt is the obstacle that prevents them from saving for retirement. They report that in addition to the out-of-pocket debt payments they’re facing, their…
Think Before You Leap (Into Social Security)
There are three tried-and-true criteria for making the decision to file for Social Security benefits, and they’re worth revisiting from time-to-time. Dropping the ball on any one of these three pivotal factors could lead you into a financial predicament later…
Disposing of Tax Returns: Make Sure You Have Earnings Records for Social Security Purposes
One of the most persistent questions on the minds of Americans is “How long must I keep my copies of my Income Tax returns?” In a post today on www.usatoday.com, The Motley Fool’s Kailey Hagen recaps the IRS recommendations currently in…
The CARES Act and Deferred Savings Accounts
In a post on baxterbulletin.com, The Savvy Senior’s Jim Miller addresses the retirement account changes implemented as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, specifically covering the matter of hardship withdrawals, loan limits, and required minimum distributions (RMDs).…
Clarification of the CARES Act Rules on Payroll Tax Deferral
The National Law Review, in a post today on their website, explains a number of provisions enacted via the Families First Coronavirus Relief Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), along with a recap of…
Getting the Most Out of Social Security
Rather than wait until its too late, folks need to know that there are ways to boost the benefit amount they will receive when they elect to begin drawing their earned benefits. For example, delaying the starting point for collecting…