Social Security
This Social Security scam is just evil
Michelle Singletary of The Washington Post reports on ever more bold schemes to get people to hand over personal information. This latest is a somewhat typical “go buy gift cards right now” scheme. She shared the following tips from the…
Is It Too Soon to Estimate My Social Security Benefits?
Since Social Security often winds up being a substantial income source for many in retirement, knowing what your benefits will look like ahead of time can help in retirement planning. The Social Security Administration (SSA) issues annual earnings statements that summarize one’s annual income for…
What “cutting” Social Security means and doesn’t mean
Sean Williams writes a thoughtful piece which explains that “cutting” Social Security, as many say must be done to shore up its long-term solvency, does not have to mean direct monthly benefit cuts. Needless to say that would be hugely…
One of the Least Understood Pieces of the Social Security Puzzle
AMAC Foundation’s Social Security Advisory Service has to-date helped well over 7,000 folks nationwide navigate Social Security’s intricate and detailed maze of rules and regulations. The questions are wide-ranging, and often get into deep research about how these rules apply…
How Much Money Will You Need in Retirement?
Well, the short answer might be, “Do the math!” But it’s easier said than done, and any who have tried have given up in the face of so many unknowns. But there is a sipler approach that you might consider,…
The Fraud Warnings Just Keep Coming!
“Scammers have claimed to belong to various federal, state, or local law enforcement agencies and they employ technology called “spoofing” to manipulate the caller IDs.” So says the warning issued by the Siskiyou County (California) Sheriff’s Office. The warning explains some…
The Pros and Cons of Early Filing for Social Security Benefits
It’s a persistent question, and we deal with it frequently in the AMAC Foundation’s Social Security Advisory Service, and there are multiple views on the correct answer. Is you’re grappling with this question, a post on myfox8.com may help you decide.…
Understanding Social Security’s “Wage Base Limit”
Although it affects a small minority of wage earners, the limit set on FICA tax applied to earnings is something that should be understood by anyone interested in how Social Security is financed. I fact, as proposals to address the…
H.R. 4005 – Tax Identity Protection Act Proposed to Address Computer System Shortfalls
Citing known deficiencies in the computer systems supporting the Taxpayer Identification Number Perfection Program, Rep. Buddy Carter (R-GA), and nine Republican co-sponsors late last week submitted H.R.4005, the Tax Identity Protection Act. The Act calls for the Internal Revenue Service to provide evidence…
That “Lack of Retirement Savings” Issue Again!
“Nearly a third of adults age 50 and over admit they’re not prepared for retirement, according to a poll from the Associated Press-NORC Center for Public Affairs Research. In addition, another 39% of older adults say they’re only somewhat prepared…