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Knowing when Social Security benefits are taxable can be confusing, and many taxpayers leave it to their CPA or tax-preparation software to let them know if they were taxed on Social Security ...
The Social Security Administration has implemented a variety of new rules and features for 2013. The two-year payroll tax cut has officially ended, and paper Social Security checks will soon cease ...
The federal Social Security Check Tax Cut Act would similarly phase out federal taxes on Social Security benefits, beginning with a 10% cut in year one and increasing to 20% in year two.
However, if the break in service is greater than 365 days, the employee is also covered under Social Security and will be deemed CSRS Offset. Overall benefits paid to CSRS or CSRS Offset employees will remain equitable based on the number of years of creditable service and CSRS formula upon retirement. CSRS and CSRS Offset employees with a ...
As a result of the 2008 financial and mortgage crisis, a hefty 5.8% increase in COLA was applied in 2009, the most significant increase that Social Security benefits had seen since 1982.
Data source: Social Security Administration. Table by author. You might have noticed the amount of the COLA was 0% in three years: 2009, 2010, and 2015.
A new bill has been introduced in Congress that would increase the annual cost of living adjustment (COLA) for retired federal employees under the Federal Employees Retirement System (FERS) in some...
This week, House Representative John B. Larson, chairman of the House Ways and Means subcommittee on Social Security and major advocate of the enhanced Child Tax Credit, presented a revised Social...