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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 12679
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
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I applied late for Social Security. The Tax year 2012 was

Customer Question

I applied late for Social Security. The Tax year 2012 was ruled as my year for evaluation of gross income. We had a Funeral and wedding to cover. My wife took monies out of her annuity to help defray some of this burden. That goes onto gross, and the SS people determined my Gross is over so much to make my quarterly payment almost $400.00. This is debatable. However mu requests for re-assessment have gone unanswered. I work on salary for the V.A. Medical system and am over 67 y/o. My wife will qualify for SS this year, or next year. She is on a Pension from teaching 37 years in our state system. What CHIME must I ring to get a fair decision on my stable gross income; and re-evaluate my assigned Medicare payment?
Submitted: 1 year ago.
Category: Social Security
Expert:  Lane replied 1 year ago.

Hi. I can help you here ... My name's Lane

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.

Bear with a moment while I prepare your answer. But first, tell me what they told you on those two contacts.

Expert:  Lane replied 1 year ago.

OK, I still don't see you coming back into the chat here. I'll assume that you have not provided the needed documentation.

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If you'll look at page 7 of this document: https://www.ssa.gov/pubs/EN-05-10536.pdf (Medicare Premiums: Rules For Higher-Income Beneficiaries), you'll see that SSA provides a way for you to document that your gross income has gone down.

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From there (I'll underline the pertinent part):

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"If your income has gone down due to any of the following situations, and the change makes a difference in the income level we consider, contact us to explain that you have new information and may need a new decision about your income-related monthly adjustment amount:

• You married, divorced, or became widowed;

• You or your spouse stopped working or reduced your work hours;

• You or your spouse lost income-producing property because of a disaster or other event beyond your control;

• You or your spouse experienced a scheduled cessation, termination, or reorganization of an employer’s pension plan; or

• You or your spouse received a settlement from an employer or former employer because of the employer’s closure, bankruptcy, or reorganization.

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If any of the above applies to you, we need to see documentation verifying the event and the reduction in your income. The documentation you provide should relate to the event and may include a death certificate, a letter from your employer about your retirement, or something similar. If you filed a federal income tax return for the year in question, you need to show us your signed copy of the return

Expert:  Lane replied 1 year ago.

Please come back so that I can determine where you are in this process

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Please let me know if you have any questions at all, before rating me

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If this HAS helped, and you DON’T have other questions … I'd appreciate a positive rating (using the stars or faces on your screen, and then clicking “submit") ... Otherwise I receive no crediting for the work here.

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Thank you!

Lane

I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in financial accounting & tax, a BBA, and CFP & CRPS designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice, since 1986.