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Answers to Stimulus Payment Questions
Seems like no matter how many articles are posted, and how many answers are given about the Economic Relief Payments (A.K.A. “Stimulus Payments”) the questions keep rolling in everywhere. Although both the IRS and the Social Security Administration maintain special…
Stimulus Payments: A Quick Reference Guide for SS and SSI recipients
The Social Security Administration has developed a guide to help beneficiaries of Social Security benefits (retirement, disability or survivors), and Supplemental Security Income (SSI) recipients determine if they need to take any action to receive their economic relief (stimulus) payment…
Does the Pandemic Make Higher Payroll Taxes Inevitable?
In this Yahoo! Finance article by Ben Werschkul, the author opines that the economic hit caused by the coronavirus pandemic makes it inevitable that payroll taxes for Social Security and Medicare will need to be raised. Quoting a policy analyst…
Millions Still Waiting for Their Stimulus Payment
According to the IRS, they have already processed about 130 million of the total 150 million stimulus payments, so a large percentage of those eligible have already received their economic relief. But those payments, ranging up to $1200 for an…
Here’s How to Get an Estimate of Future Social Security benefits
For those who are thinking about when to claim Social Security, you’ll want to know in advance how much your benefit is likely to be. And while the exact amount can’t be known until you actually apply, you can get an…
COVID-19 Hardship? You Can Claim SS early and Suspend Later
The COVID-19 pandemic has caused financial hardship for many, even with the Federal Government’s “CARES Act” which provides an economic stimulus to most Americans. In spite of the stimulus, for most seniors there is still rent to pay, mortgage and…
Today’s Mistakes Hurt Tomorrow’s Retirement
Especially in these challenging economic times, keeping a steady hand on the steering wheel of your retirement plan is exceptionally important. You could hurt and even jeopardize your future retirement comfort by makes these 2 simple, but potentially devastating mistakes…
SS Recipients Must Give Banking Info to IRS for Electronic Stimulus Payment
The guidance on stimulus payments for Social Security beneficiaries has been a bit fluid over the last couple of weeks, leaving many with the impression that the IRS would be using their Social Security bank deposit information to provide the COVID-10 payment electronically. It turns out that…
Stimulus Payment Notice for SS Beneficiaries with Dependents
Social Security beneficiaries and Supplemental Security Income (SSI) recipients who do not file an income tax return have until May 5th to tell the IRS about qualifying dependents to get a timely payment for that benefit. An extra $500 for each qualifying…
Estimating Your Social Security Benefit
Especially during the pandemic, with Social Security offices closed to in-person visits and exceptionally long wait times on the phone, obtaining an estimate of your future Social Security benefit may prove to be a daunting experience. But there are ways other than direct contact…