Social Security benefits are a valuable source of retirement income, and no one wants to lose them to taxes. Unfortunately, some retirees end themselves owing money to both the IRS and their state or local government. On the federal level, you’ll be taxed on up to 50% of your benefits if your provisional income exceeds...
Some Americans may still be eligible for a stimulus check worth up to $1,400, according to the Internal Revenue Service (IRS). The agency recently announced that taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns could still receive these payments. Automatic Payments for Eligible Taxpayers The IRS has already started...
The Social Security Administration (SSA) is rolling out stricter rules to combat fraud, requiring millions of Americans to verify their identities in person at agency field offices starting March 31. The change, announced by agency leadership on Tuesday, ends the option to confirm identities over the phone and could affect both new applicants and current...
This past summer, President Donald Trump proclaimed on Truth Social, “Seniors SHOULD NOT PAY TAX ON SOCIAL SECURITY!” That may appear to be a boon for pensioners on fixed incomes, who are one of the country’s largest and most reliable voting blocs, but how much will seniors truly benefit if Trump is successful in removing...
DDN – Most Americans find the process of filing their taxes to be unenjoyable. For even those who find it somewhat easy, it still feels like a task to tackle. Despite any disdain you may have for the task of preparing your return, the moment the refund lands in your bank account is likely a...
The Department of Government Efficiency (DOGE) is investigating the Social Security Administration (SSA) for instances of excessive spending, inappropriate payments, fraud, and inefficiency. While this is good news for government watchdogs looking to put a tighter control on federal spending, retirees should be aware of the potential consequences. “If DOGE introduces efficiency measures or cuts...
Deciding when to retire is a significant milestone for every worker, as it determines the Social Security benefits they will receive for the rest of their lives. It’s a decision that requires careful consideration of one’s financial standing, lifestyle preferences, and future plans. For many, reaching full retirement age prompts an important reassessment of their...
Tax credits allow you to directly reduce the amount of taxes owed, as long as certain conditions are met during the fiscal year. The Internal Revenue Service (IRS) has updated the amounts and eligibility criteria for a number of federal benefits for individuals and families in 2025. This report describes the options available and the...
The Social Security Administration (SSA) has announced that Supplemental Security Income (SSI) recipients will not receive their payments on March 1, 2025, because the day falls on a Saturday. Instead, the deposit will be moved forward to Friday, February 28. This adjustment ensures that funds arrive on time, regardless of the weekend. SSI is a...
Low-income households in Florida receive food assistance through the Supplemental Nutrition Assistance Program (SNAP), which is administered at the federal level by the United States Department of Agriculture (USDA) and at the local level by the Department of Children and Families (DCF). This article discusses the March 2025 payment dates, maximum amounts, eligibility criteria, and...