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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3441
Experience:  37 plus years of SSD practice
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I USE TO GET OVER $2,000 IN SOCIAL SECURITY. FOR THE LAST

Customer Question

I USE TO GET OVER $2,000 IN SOCIAL SECURITY. FOR THE LAST TWO
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I USE TO RECEIVE OVER $2,000.00 IN SOCIAL SECURITY. FOR THE LAST
JA: Is there anything else the Retirement Accountant should be aware of?
Customer: TWO TIMES, I HAVE ONLY GOTTEN $1,769.O5. IT IS DIFFICULT TO LIVE ON THAT AMOUNT. I HAVE A RED,WHITE AND BLUE SOCIAL SECURITY CARD.
Submitted: 5 months ago.
Category: Social Security
Expert:  Lane replied 5 months ago.

Hi. My name's Lane. I may be able to help you figure this out.

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I hold a law degree, with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice to clients on three continents since 1986

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Bear with me just a moment and I’ll provide my initial response and then we can go from there if you have further questions on this.

Expert:  Lane replied 5 months ago.

The most common reason for this is the rather new law that increases medicare part B premiums for what SSA calls "High Income Earners."

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Here's the Social Security publication on that:

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https://www.ssa.gov/pubs/EN-05-10536.pdf

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What's really frustrating for many, is the fact that Social Security doesn't get information fro IRS regarding TAXABLE income from a tax return until more than a year later, so something such as an IRA distribution in 2015 (for example) could be causing this, and it will continue until you show them that return and the more recent return showing that you income is no back at it's normal levels (that the distribution was an atypical event.

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Next, I'll discuss the other possibilities