The Social Security Administration uses a schedule where checks are deposited on the second, third, or fourth Wednesday of each month, depending on your date of birth. For example, if you were born on the 1st–10th of the month: Expect your Social Security check to be deposited on the 2nd …
The Social Security Administration (SSA) has announced that there will be a 1.6% benefit increase for 2020. This 1.6% cost-of-living (COLA) adjustment will begin with payments received in January 2020 for Social Security Disability Insurance (SSDI) beneficiaries and Supplemental Security Income (SSI) recipients. If you are currently receiving SSDI benefits …
Every year in January, the Social Security Administration mails the SSA-1099 form to individuals who receive Social Security benefits. This form shows the total amount of Social Security benefits received so that you know how much Social Security income to report on your tax return. If you live in the …
Originally, the age at which an individual could claim Social Security retirement benefits was 65 years old. In 1961, a law was passed which allowed individuals to collect reduced Social Security retirement benefits as early as age 62. However, workers still had to wait until the full retirement age (65) …
In December 2014, President Barack Obama signed into law the Achieving a Better Life Experience Act. Better known as the ABLE Act, it allows people who have a disability that occurred before the age of 26 to open one tax-free savings account to pay for qualified disability expenses. This money …
