IRS
Economic Impact Payments: What We Know (As of Today)
The most recent press release from the Social Security Administration (SSA) reiterated what is believed to be the current guidance on economic impact payments (a.k.a. stimulus checks) at this point in the unfolding implementation of the Coronavirus Aid, Relief, and Economic Security…
Stimulus Checks – Some of the Details
As reported in yesterday’s headline article, the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” passed in Congress, providing for substantial stabilization in America’s economy during the unprecedented medical crisis sweeping the country. As approved, the Act provides critically needed…
Surprise! Your Social Security Benefits Can be Taxed
It comes as an unwelcome surprise to many new Social Security beneficiaries, but the truth is your monthly benefit may be subject to federal income tax. In fact, it’s not only possible, it’s likely, since more than half of current…
Surprise! Your Social Security Benefits May be Taxed
For many folks entering the retirement world with an understanding of what their monthly Social Security benefit payment–the benefit they’ve earned through a lifetime of work and FICA tax contribution–will be, it comes as a surprise at tax time to…
Social Security…A Bit f History
This excerpt from Murray Rothbard’s The Progressive Era, Patrick Newman, ed. (Auburn, Al.: Mises Institute, 2016), chap. 11.] provides a historical glimpse of some of the early logistical days leading up to Social Security’s implementation in the 1930s. It’s an interesting…