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emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 3173
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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Both my wife & I started collecting SS benefits at the first

Customer Question

Both my wife & I started collecting SS benefits at the first of 2016. Does this exclude us from HR1314 (ridiculous questions, I know) 'file & suspend' possibilities?
Submitted: 1 year ago.
Category: Social Security
Expert:  emc011075 replied 1 year ago.
Hi. My name is ***** ***** I will be happy to help you. File and suspend means you file for your benefits and immediately suspend them (choose not to collect them until 70). If you already started collecting your benefits, you would have to return all of them. Your spouse could apply for restricted application, meaning she could choose to collect lower spousal benefits (50% of yours) and at 70 switch to her own that will be about 8% than her current benefits.Because you were both 62+ at the end of 2015, the new changes will not affect your benefits. Your benefit options are considered grandfathered.
Expert:  emc011075 replied 1 year ago.
I see you read my respond. Do you have any questions? Is there anything else I can help you with today?And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.