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Social Security


Saved from the IRS Part 2: More Income the Government Can't Touch

Last week we published a list of items the IRS doesn't tax. Here are a few more that are wholly or partially exempted.

Fail to Remit Withheld Taxes and Find Yourself in a World of Hurt

Managers who "borrow" withheld taxes to fund company operations will find the IRS holds them personally responsible.
Practice Management

How Couples Can Maximize Social Security Payouts

Married couples have multiple options for tapping into their Social Security accounts; shrewd planning is needed to pick the right one.

How to Maximize Social Security Survivor Benefits

The Social Security "survivor benefit" is complex, and shrewd calculations and analysis are necessary to get the full amount you're entitled to.

Social Security Wage Base Projected at $115,500 for 2014

The Social Security Administration (SSA) Office of the Chief Actuary (OCA) has projected that the Social Security wage base will increase from $113,700 for 2013 to $115,500 for 2014.

The 'Hidden' Social Security Tax Change

Like clockwork, the SSA announces an increase in the annual Social Security "wage base" practically every October. This year is no exception. Among other changes, the SSA says the wage base will jump to $113,700 in 2013.

NAEA Takes on Outdated Tax Provisions

The NAEA has announced its intent to focus its advocacy efforts on tax code provisions in desperate need of reform and to work with other interested stakeholders in requesting that Congress address this important issue.

Study: Taxpayers Willing to Sacrifice to Reform Social Security

A new study ? "The Effect of Accounting Information on Taxpayers' Acceptance of Tax Reform" ? suggests that if taxpayers had a different understanding of the financial sustainability of Social Security, they might be more willing to make sacrifices to reform the system.

It's Official: Payroll Tax Holiday Extends through 2012

Ending several weeks of uncertainty, Congress passed the Middle Class Tax Relief and Job Creation Act of 2012 shortly before adjourning for a long President's Day weekend. President Obama is expected to sign the bill as soon as it reaches the White House.

IRS Discloses Favorite Tax Scams of 2012

The Internal Revenue Service has issued its annual Dirty Dozen ranking of popular tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

Payroll Tax Takes Another Holiday

Our nation's lawmakers finally agreed to a compromise extension of the so-called "payroll tax holiday." The new law signed by the president on December 23 – the Temporary Payroll Tax Cut Continuation Act of 2011 – keeps the payroll tax break alive for another two months.

Wrangling Continues over the Payroll Tax Cut

This morning (December 19), the Associated Press reported that "Boehner spoke after a chaotic weekend in which Senate leaders first failed to agree on a full-year bill, then coalesced around the two-month extension that passed overwhelmingly, only to spark a revolt among GOP conservatives in the House."

Social Security COLAs for 2012: Take the Bad with the Good

The Social Security Administration (SSA) recently announced cost-of-living adjustments (COLAs) for 2012. There's both good news and bad news for your clients.
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