SOCIAL SECURITY

Even with new spending restraints included in the congressional debt limit deal, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades.

The U.S. is now seven days away from defaulting on its debt, which could delay the distribution of Social Security checks, veteran benefits and federal workers' paychecks.

Americans are deeply opposed to cutting into Medicare or Social Security benefits, and most support raising taxes on the nation’s highest earners to keep Medicare running as is.

An annual report on Social Security and Medicare says the financial safety nets millions of older Americans rely on and millions more young people are counting on will run short on funds to pay full benefits within the next decade.

In the federal budget standoff, the majority of U.S. adults are asking lawmakers to pull off the impossible: Cut the overall size of government, but also devote more money to the most popular and expensive programs.

Former Vice President Mike Pence is calling for “common sense and compassionate solutions” to reform entitlement programs and the nation’s debt burden.

Republican presidential candidate Nikki Haley is proposing changes to entitlement programs for younger generations, opening the door to potential cuts to Social Security and Medicare if elected.

It seems no one wants to cut Social Security or Medicare benefits.

Republican Sen. Rick Scott of Florida has amended a plan to overhaul how the federal government works after Democrats repeatedly seized on it to accuse Republicans of looking to cut Medicare and Social Security.

The Congressional Budget Office says it expects the U.S. economy to stagnate this year.

President Joe Biden is taking direct aim at Republicans who have floated cuts to Social Security and Medicare.

When President Joe Biden suggested that Republicans want to slash Medicare and Social Security it brought howls of protests from the GOP side of the aisle during the State of the Union address.

A section of the new $1.7 trillion spending bill from Congress has been billed as a dramatic step toward shoring up retirement accounts of millions of workers.

Higher prices throughout much of 2022 have taken their financial toll on older adults in particular.

Social Security payments are going up, and with that comes an increase in calls, emails and texts from imposters trying to trick people out of information or money, the U.S. government warns.

The news that 70 million people will see an 8.7% boost in their Social Security checks next year came just weeks before Election Day, but it's unlikely to give Democrats the edge they're desperately seeking at the polls.

Tens of millions of older Americans will see a major increase in benefits this January when a new cost-of-living adjustment (or COLA) is added to Social Security payments.

Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023.

It’s not just old people who will get what’s expected to be the largest cost-of-living adjustment in Social Security benefits in 40 years.

A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.

Olivia and Liam are once again America’s most common baby names.

A former San Antonio adult day care owner was sentenced to prison this week for a health care and Social Security scheme theft worth nearly $1.8 million, according to the U.S. Attorney’s Office.

When seniors enter retirement, a good amount of them rely solely on Social Security checks as income and sometimes the checks aren’t enough to cover groceries.

The head of a Senate panel that oversees Medicare says the Biden administration should cut back a hefty premium increase soon to hit millions of enrollees.

The sharp shock of the coronavirus recession pushed Social Security a year closer to insolvency but left Medicare’s exhaustion date unchanged, the government reported Tuesday.

Even for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.

The 9@9: SCOTUS hearings; early voting; Social Security increasePublished: October 14, 2020, 9:51 amThe 9@9 features some of the biggest stories making headlines at home, around the country and across the globe. Here’s what’s trending.

WASHINGTON – Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The economic fallout from the virus has reduced tax collections for Social Security and Medicare, likely worsening their long-term financial condition. The former vice president would raise Social Security taxes by applying the payroll tax to earnings above $400,000 a year. That amount generally increases, so at least some of any additional Social Security raise goes to health care premiums. That prompted Congress to pass recent election-year legislation that limits next year’s premium increase but gradually collects the full amount later on under a repayment mechanism.

The former Mrs. Florida is scheduled to trade her evening gown for a prison jumpsuit after pleading guilty to stealing her mother's Social Security checks, prosecutors say, to help fund her opulent lifestyle. Turk pleaded guilty to misdemeanor social security fraud and was sentenced to one month behind bars. The Social Security checks were supposed to pay the nursing home where her mom lived. But Turk says she refused to pay the nursing home bills because the facility neglected her mother, she says. Turk says she used the money to pay for private nurses to take care of her mother around the clock.

Figuring out what you owe can be complicated, here is some information to understand what is taxable under Social Security. Social Security is taxable at three different levels, based upon how much other income you have and your income tax filing status. This is 50% of your household Social Security benefits plus all of your other taxable income, plus any tax-free income. These breakpoints are the same if your filing status is Married Filing Separately and the couple does not live together during the tax year. If your Provisional Income (defined above) is less than the first breakpoint based on your filing status, then none of your Social Security is taxable.