Social Security is a critical source of income for millions of American retirees. Any changes to the program can have widespread consequences for those relying on it for financial security. Under President Donald Trump’s administration, several key proposals and enacted reforms have emerged, aiming to reduce taxes on benefits, adjust workforce operations, and address funding … Read more
The Internal Revenue Service (IRS) has issued a strong warning to taxpayers and tax preparers alike: engaging in fraudulent tax schemes or relying on dishonest tax practices could lead to criminal charges, hefty fines, and possible jail time. With tax season in full swing, the agency is stepping up enforcement against tax fraud, including abusive … Read more
The Social Security Administration (SSA) has announced that, effective March 27, 2025, it will revert to withholding 100% of a beneficiary’s monthly payment to recover overpayments. This move follows a temporary policy introduced in March 2024 that limited withholdings to 10% to ease financial hardship on recipients. The decision has sparked concerns among Social Security … Read more
A newly proposed bill, known as the Social Security Expansion Act, aims to provide seniors and beneficiaries with an additional $2,400 annually, translating to $200 per month in increased Social Security benefits. The bill, championed by Democratic lawmakers, seeks to ease the financial strain on retirees who rely on Social Security as a primary income … Read more
Millions of Social Security recipients are set to receive higher benefit payments this week, with some individuals seeing checks of $2,000 or more. The Social Security Administration (SSA) has confirmed that payments will begin on Wednesday, March 12, 2025, as part of adjustments made under the recently passed Social Security Fairness Act. The new law … Read more
The Social Security Administration (SSA) is set to reinstate a strict overpayment recovery policy in 2025, allowing the agency to withhold 100% of a beneficiary’s monthly Social Security payment until an overpaid amount is fully recovered. This marks a significant change from the previous policy, which limited the withholding rate to 10% per month in … Read more
Millions of Americans could soon see a substantial boost in their bank accounts, thanks to the Social Security Administration (SSA) initiating retroactive payments averaging $6,710 per beneficiary. This move comes as a result of the repeal of key provisions that previously reduced or eliminated benefits for certain public sector employees. The SSA has confirmed that … Read more
The recently enacted Social Security Fairness Act, signed into law by President Joe Biden on January 5, 2025, has sparked a surge in Social Security benefit claims and payments. The legislation repeals two controversial provisions—the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO)—allowing millions of public sector workers to receive their full Social … Read more
The American Association of Retired Persons (AARP) has issued a formal request to President Donald Trump’s Social Security Administration (SSA), seeking assurances that the agency will address growing concerns over long wait times for phone assistance and the closure of Social Security field offices nationwide. With the Trump administration pursuing an aggressive government downsizing initiative, … Read more
Millions of retired workers, disabled individuals, and survivors who rely on Social Security benefits will receive their March 2025 payments according to the Social Security Administration’s (SSA) official payment schedule. The average Social Security retirement benefit for this year is estimated at $1,976 per month, rounding up to $2,000 for most recipients. The SSA distributes … Read more