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Social Security
U.S. OASDI social insurance system funded by FICA payroll taxes and originally created by the Social Security Act of 1935
3,984 Questions
Do senior depend on social security as their primary source of income?
A lot of seniors do depend on Social Security as their primary source of income. The decrease in pension plans over the last couple of decades left a lot of people with no viable option.
US Social Security Administration, 77 W Jackson Blvd, Suite 300, Chicago, IL 60604. The telephone number is (800) 772-1213. You can also look up and possibly print out the form you are seeking at their web site. The web site is www.ssa.gov.
How much can you earn in 2011 while collecting social security at 63 years of age?
You can earn any amount and still collect some of your SSB at the age of 63 but if you earn more than 14160 in the year 2009 or 2010 the earning test amount will apply to above this amount until the year that you reach your FRA the earnings test amount will apply and the amounts usually change each year.
Go to the SSA gov web site and use the search box for EARNINGS TEST AMOUNT
Click on the below Related Link
Can Social Security checks be garnished in Michigan?
I'm going through this right now and my brother in law is a lawyer. In the state of Michigan they can only withhold your unemployment benefit checks if is for child support or spousal. It is unearned income!
yes it can
Do you get more ssdi benefits if you have a baby?
Yes, in most cases having a child will increase social security benefits. However, keep in mind that proper care of a child will cost much more than the increased benefit is likely to provide.
Do US residents need passports?
Requirements for a passport depend on where and how you're planning to travel. If you plan to travel from the United States by air and you are a US citizen, you will need a passport to gain re-entry to this country (and to enter a different country).
If you're planning to travel by ship, for example on a cruise, or by by land (car, train, truck, bike) you can visit the Caribbean, Mexico and Canada with a certified copy of a birth certificate and a government-issued photo ID or a passport -- (but if your cruise departs from Vancouver or St. Martin and you must fly to get to the ship, you'll need a passport). The exact date passports will be required for travel by ship have not been established, but it should be in the fall 2008.
The above applies to US Citizens; alien residents have different rules depending on the status of their Permanent Residency and their country of citizenship.
If Social Security Survivor Benefits are your only source of income, your benefits probably aren't taxable. The monthly check is usually paid to the surviving parent. But the benefit really is for the child.
If you have no other income, a quick check is to compare one-half of the total benefit amount with the base amount of $25,000 for Single filing status. If half of the benefit amount is less than $25,000, then the benefit isn't taxable.
A Social Security Benefits Worksheet is included in 2208 Form 1040 instructions on p. 27 (p. 28 for 2009 Form 1040 instructions).
Also, go to www. irs.gov/taxtopics for Topic 423 (Social Security and Equivalent Railroad Retirement Benefits). Go to www.irs.gov/formspubs for Publication 915 (Social Security and Equivalent Railroad Retirement Benefits).
Can you receive Section 8 housing eventhoug you Draw Social Security on your child?
The total amount that you pay rent is determined by the total income of the family, from whatever source (as long as it's legal).
ex: be healthy, mentally relaxed feel good about your self, play sports and have good condition in sports like soccer :)
Either the other parent (if still alive and wants them) or the closest relative. The Child should be able to have some say though.
All the parents of any children of the deceased parent can file for a portion of the amount. They each get a check. The more parents filing, the smaller the amount each gets.
Can you draw social security from ex-husband in Alabama with a common law marriage?
there is no such thing as a common law marriage so no you cannot.
Can you draw Unemployment along with Social Security in Hawaii?
Yes, as long as you qualified for both of them, individually.
Can social security income be taxed in the year you are turning sixty six?
Yes it can and it also can be taxable every year after you turn sixty five. Age will never relive you from having to file income taxes. If someone tells you that you no longer have to file taxes after a certain age, they do not know what they are talking about. You can be 106 and still have to file income tax returns. Having income below the required amount is the only reason you may not have to file taxes in a particular year. You can also not be required to file one or more years then have to start back again.
Can the franchise tax board levy social security?
No they cannot. They are one of 14 States that cannot levy for State taxes. Federal, yes.
How is a child eligible for social security benefits?
A minor child may receive benefits if a parent has passed away. They may also receive benefits if they have a disability.
Yes AND no. Generally speaking, Social Security benefits are exempt from liens EXCEPT federal taxes. However, you will probably have to prove that ALL the money in your bank account comes from NOTHING but the SS payments.
Paying back social security when someone dies?
You must notify Social Security when someone dies, and any benefits received for the month of their death onwards should be returned to social security. If the deceases has a direct deposit arrangement with the SSA, after notification of death they can usually tap into the account and pull that last check back out. Do not attempt to circumvent the recovery process or fool the SSA, as penalties and punishment for criminal acts may apply. Even if the money is withdrawn from the account, SSA will still have to be repaid. Usually this notification to SSA will be done by the surviving spouse, children or executor. Just call the local or main SSA number, and they have a procedure to take the necessary information. SSA also has a pamplet online "What To Do When A Beneficiary Dies" you can access. Any member of the American Academy of Estate Planning Lawyers should be able to assist you with such an issue. My practice is in Pittsburgh as The Estate Planning Centers at The Coulter Law Offices LLC. Please remember that this is a general discussion only, and is not intended as legal advice upon which anyone should rely. Moreover, I'm typing this reply off of the top of my head as a courtesy, not as a researched answer to your situation. You should consult with a lawyer or appropriate professional regarding you own specific facts and circumstances. Mark T. Coulter, J.D.
Did US borrow money from China to stabilize Social Security?
I have never seen anything along these lines in the print media or even Underground radio such as WBAI. It is out of the Question.
You want a prepaid credit card but you dont know your social security number?
If you don't know you number or can't find your social security card then apply for a new one... Without it you can't apply for much in the terms of credit cards or the like these days.
Who do i speak to about my deceased husband's commission checks from Allianz?
Contact his immediate superior, if you don't get anywhere there just keep climbing upward. I'm sorry for your loss.
Yes, but dealing with SS in doing the transfer may be difficult, so the other parent may need to pay it directly.
As an actuary, I can tell you that the unfunded liabilities ARE meaningful and are HUGE. If you doubt me, read the trustee reports for the OASDI and Medicare (HI and SMI). The previous answer ignores several items: 1) The costs of these programs, as is, will increase tremendously from year-to-year.
2) Benefits are being paid by eating up reserves for future years for Social Security and by using general revenues (general tax money) for Medicare.
3) We are borrowing tons of money from our citizens and increasingly from foreigners building INCREDIBLE debt that we are foisting on to future generations because politicians feel obliged to satisfy our greed rather than telling us the truth.
4) The 2009 trustee reports for Medicare projects a $36.6 trillion unfunded liability for the next 75 year period and $86.5 tillion if it goes further out. Yet it states that the projection UNDERSTATES the problem because it is based on doctors' payments in the current law, which the trustees feel are unreasonable.
5) The corresponding OASDI unfunded liabilities are $5.3 trillion for the next 75 years and $15.1 trillion in total. So together that exceeds $100 trillion and it does not count Medicare nor any of the debt that would result if the Health Care Reform package goes through.
5) By the way, the so-called "deficit reductions" of the Health Care Reform bill result from collecting money today for future benefits, allocating that money to "reduce" the debt and letting our children and grand-children worry about how to cover the cost of those benefits. If private industry used such accounting, they'd be sent to jail.
100 trillion unfunded liability is a fallacy! The Internet is rampant with such crazy stories,. One said 38 Trillion over 75 years.
Even that does not stand up to simple logic.
Medicare is always predicted to be "bankrupt"in 3 to 13 years in the future. This prediction started in 1970 where it was predicted to be spending the first unfunded dollar in '72. The predication keep moving out, but is never reached. The fund is always covered,
Factcheck.org tells it straight:
A new health care ad from a conservative group claims that "Medicare will be bankrupt in eight years." That gives a false impression. The program does have huge financial problems, but there's no reason to think it's going out of business as the word "bankrupt" implies. And the issue isn't new:
- A government report the ad refers to says the trust fund for one part of Medicare -- hospital insurance -- won't have enough money to pay all benefits in 2017. Medicare's physician and drug benefits will "remain adequately financed," says the report.
- Government projections have found that the hospital insurance trust fund would face a shortfall "almost from its inception," according to the Congressional Research Service. But in many cases politicians have found ways to extend it. In 1970, for instance, the trust fund was expected to be insolvent in 1972.
So do the math: To run a 36 Trillion liabilty it would need to be negative by the amount of $500 billion every year for 72 years. Some Right wingnut started these numbers and they spread thru the internet and by TV and Talk Radio right wing spin masters!
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Yep, the GAO is made up of a bunch of right wing spin masters, according to the first answer. 34 trillion unfunded - medicare/medicaid, 7 trillion - SS.
http://www.gao.gov/cghome/d08446cg.pdf
When do social security checks come with the thanksgiving holiday?
how can ss check come on nov31,if there is no nov 31 ,
Do you need a social security number to work legally In the US?
Referring to the application process of colleges and universities, typically you do not need a social security number. For individuals who do not have one, the institution will generate a student identification number. However, if you are a permanent resident or US citizen and wish to apply for financial aid assistance, you will have a problem.
