It looks like the new Social Security Commissioner, Martin O’Malley, is really taking charge. A number of changes have been implemented in the several weeks Commissioner O’Malley has been on the job. Among the most meaningful is decreasing the default overpayment withholding rate to 10% (or $10, whichever is greater) from 100%. This will significantly…
Social Security uses what is called the “fee agreement process” to pay representatives who help Claimants. For those signing an appropriate fee agreement Social Security will approve the agreement and pay the representative up to 25% of a retroactive fee. Since November 2022 that retroactive fee could not exceed $7,200. Sometime this fall the cap…
Summer 2021 Newsletter STILL STANDING…AND PRACTICING I published the first issue of Social Security & You in Spring of 1993. Some years I’ve published more issues than others. The most recent issue was dated Spring 2019: over 2 years ago. The world was a much different place then. Especially for me. Read the full newsletter…
Spring 2019 Newsletter An Opioid Story I’ve changed his name. Let’s call him Gerald. He was a laborer. And by that I don’t mean that he just did physical work. He was a card-carrying member the Labor’s Union local. And that meant a lot to him. I represented him for Social Security disability and Michigan…
Rep. Angie Craig, D-Minnesota has introduced the “You Earned It, You Keep It Act” to repeal federal income taxes on Social Security benefits.
Currently Social Security recipients who earn more than $25,000 for an individual or $32,000 for a married couple, filing jointly, are taxed up to 85% of their benefits. Below that threshold benefits are not taxed.
According to AARP, about 56% of Social Security recipients are taxed on their benefits.
The cut would be paid for by raising the payroll tax cap to $250,000, something Attorney Crawforth has advocated for years. Currently, wages over $147,000 are exempt from Social Security payroll taxes.