Concerns about the impact of a government shutdown on federal services and payments are common. Many Americans rely on Social Security for their retirement, survivor, or disability benefits, making the question of whether or not these payments will continue a big concern during a government shutdown. Will Social Security Payments Continue During a Government Shutdown?...
Social Security is an essential part of the financial system in the United States. It provides retirement benefits to millions of Americans, offering a safety net when they can no longer work. However, Social Security faces some challenges that could impact future benefits. As more people retire and fewer workers contribute, the program’s long-term health...
The Senate is preparing to vote on the Social Security Fairness Act, a bill designed to increase benefits for individuals eligible for non-Social Security government pensions. The proposal has already passed the House of Representatives with bipartisan support and is now awaiting its fate in the Senate. Despite backing from lawmakers in both parties, the...
If you receive Social Security benefits, you might be wondering whether you need to file taxes. While most people do not have to pay taxes on their benefits, a significant number—about 40%—may need to, depending on their income and other factors. The Social Security Administration (SSA) has guidelines to help you determine if your benefits...
The IRS is sending out $2.4 billion in special payments to ensure that 1 million eligible Americans who missed their pandemic stimulus checks receive the money they are owed. Each eligible recipient could receive up to $1,400, with no need for additional paperwork or filing amendments to tax returns. This new initiative, announced by IRS...
Every month, the Social Security Administration (SSA) sends out checks for five major programs, with Social Security Disability Insurance (SSDI) being one of the most important. These payments support individuals with disabilities that prevent them from working and significantly impact their daily lives. SSDI provides financial assistance to help them live with dignity, ensuring that...
Planning for retirement is something everyone needs to think about, regardless of how much money they make. For high-income individuals, retirement planning might seem easier, but it’s just as important for people with lower incomes to think ahead. Proper planning helps you get the most out of Social Security and ensures a comfortable post-retirement life....
The Social Security Administration (SSA) has announced an important change that could affect your Social Security or retirement payments. Starting in December, beneficiaries who haven’t completed a simple update to their accounts might face interruptions in their payments. The government’s new rule requires that all beneficiaries move their accounts to the Login.gov platform. If this...
Christmas is almost here, and while it’s a season for joy and relaxation, some responsibilities, like Social Security payments, don’t take a break. The Social Security Administration (SSA) has made adjustments this December to ensure payments are processed smoothly, even as their offices close for key holidays. The SSA has confirmed that all payments will...
Social Security is a vital part of retirement planning. Many people think retirement starts at 65, but that’s not always the case. You can start claiming Social Security benefits as early as 62, though the checks will be smaller. To get the maximum benefit, you need to wait until your “full retirement age.” For those...