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On my 2015 tax return, my benefits were lowered due to

Customer Question
On my 2015 tax...

On my 2015 tax return, my benefits were lowered due to income increase, 2016 income was much lower to or less than previous level- when can I receive my previous benefits reinstated, my tax returns were filed 60 days ago. Thank You

Accountant's Assistant: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else the Retirement Accountant should be aware of?

No, I simply wish to know when to expect to be reinstated to the proper benefits.

Submitted: 10 months ago.Category: Social Security
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Answered in 10 minutes by:
9/27/2017
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 10 months ago
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,901
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

HI, MY NAME’S LANE - I hold a law degree (J.D.), 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 1986.

...

This will not simply happen automatically. IRS does not send tax return information until 2018. Further, I have seen this NEVER readjust in some cases, until the client becomes proactive (and takes the lead with the clerks at social security)

...

You need to call the 1800 number and set an appointment to go into the local office to document this with a couple of things: (1) The signed filed tax return, and (2) documentation that the nature of the income increase was atypical (a one-time IRA distribution, etc.) that does not reflect what the normal income will be, going forward.

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Lane
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,901
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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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