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red_moon_riseThe rules around claiming Social Security benefits are full of caveats and nuances. "Your ex is worth twice as much dead than alive," said Mary Beth Franklin, a certified financial planner and Social Security expert. The calculus assumes the first spouse to die had a larger Social Security retirement benefit than the survivor. Social Security rules for married, divorced spousesThe federal government determines Social Security benefits based on age and earnings history. Claiming benefits based on an ex-spouse's earnings record doesn't affect or reduce that former spouse's benefits, Colley said.
Persons: Mary Beth Franklin, Natalie Colley, Sandy, she'd, , Franklin, Colley Organizations: Social, Social Security, Women, Francis Financial, Social Security Administration, spouse's Social Security, spouse's, SSA Locations: West Palm Beach , Florida, New York
Nov 28 (Reuters) - Spending online on Cyber Monday is set to exceed $12 billion, a record, as bargain hunters snap up deals on items including Barbie dolls, Lego sets, headphones and smart watches, according to preliminary estimates from Adobe Digital Insights. The estimate projects U.S. shoppers will spend $12 billion-$12.4 billion on Cyber Monday, the biggest U.S. online shopping day. At the top end, this would represent an 9.7% increase compared to the $11.3 billion spent on Cyber Monday last year. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. On Monday, Walmart stepped up discounts on some clothing to 60%, up from the 50% it offered on Black Friday.
Persons: Barbie, Nancy Tengler, Eduardo Munoz, Matthew Katz, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis, Lincoln Organizations: Adobe Digital, Retailers, Adobe Analytics, Investments, Shoppers, Workers, REUTERS, SSA & Company, Walmart, Sizemore Capital Management, Target, Graphics, Insider Intelligence, Thomson Locations: Scottsdale , Arizona, United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru
One Social Security disability applicant finally had a hearing scheduled for this month but did not live until the scheduled date, according to David Camp, interim CEO at the National Organization of Social Security Claimants' Representatives. While the patient sought help with 825 days left to live, Social Security wasted more than 500 days with its delays. From 2010 to 2022, claims for Social Security disability benefits declined by 37%, while claims for Supplemental Security Income, or SSI, fell by 49%, according to Camp. Eliminating that phase of the process could free disability determination services staff to work on initial disability claims and reduce backlog, she said. Increase funding for Social Security AdministrationCongressional Republicans have proposed a 30% federal budget cut, which would be "completely devastating" to the Social Security Administration, said Kerr-Davis.
Persons: Richard Stephen, Istock, David Camp, Linda Kerr, Davis, Kerr, Jennifer Burdick, Aleksandr Zubkov, Burdick Organizations: Getty, National Organization of Social Security, Representatives, Social Security, Social Security Administration, Consortium, Citizens, Force, Republicans, Davis, SSA
How Much Social Security Will I Get?
  + stars: | 2023-10-20 | by ( Aly J. Yale | ) www.wsj.com   time to read: +5 min
For these reasons, it is hard to know exactly what your Social Security checks will look like years in advance. Every year, the government adjusts Social Security payouts for inflation—these are called cost-of-living adjustments, or COLA—so averages change, too. However, you can start taking Social Security anytime between ages 62 and 70. Whether or not you’ll owe taxes on your Social Security check is complicated, but more than half of Social Security recipients currently pay taxes on theirs. You can use the Social Security Administration’s Quick Calculator to get a rough idea of your payouts, or if you sign up for a My Social Security account, you’ll get an official estimate straight from the source.
Persons: Aly J, you’ve, You’ll, , Krisstin Petersmarck, , James Sahagian, you’re, you’ll Organizations: Yale, Social Security, Bridgeriver Advisors, Social, Social Security Administration, Ramapo Wealth Advisors Locations: U.S, Bloomfield Hills, Mich, Ramapo, Ramsey , N.J
That could mean a delay in the much-anticipated announcement of the annual cost of living adjustment (COLA) to the monthly benefits paid out by the Social Security Administration. The new rate will start to be paid to Social Security retirement benefits recipients in January 2024, while payments to SSI beneficiaries typically change at the end of each December. "A delay of the CPI release may have an impact on the COLA announcement by the Social Security Administration," according to a Labor Department memo detailing how a shutdown would affect agency operations. Last year, with annual inflation raging near the highest in four decades, the COLA announced for 2023 payments was 8.7%, the largest increase since 1981 and the fourth biggest ever. Still, whatever COLA is announced for 2024 is unlikely to offer the same buffer over inflation as recipients enjoyed in 2023.
Persons: Price, Dan Burns, Lucia Mutikani, Lisa Shumaker Organizations: U.S . Labor Department, Bureau of Labor Statistics, Social Security Administration, Social Security, CPI, Urban, Clerical Workers, BLS, Labor Department, SSA, COLA, U.S . Federal, Social, Thomson
Across the country, federal workers still stung by the memories of past government shutdowns are grimacing and bracing for another potential extended closure. Johnny J. Jones, secretary-treasurer of the TSA workers unit within the AFGE, said even a temporary loss in pay is a massive disruption for government workers who live paycheck to paycheck. LaPointe, a mother of four who is also a union leader for 30,000 Social Security workers through AFGE, said a shutdown would be “a catastrophe" personally. A Partnership for Public Service survey ranks the Social Security Administration last among agencies in the “Best Places to Work” government-wide index. “We don’t often feel like it’s worth it to be federal employees at the time of a shutdown,” LaPointe said.
Persons: — John Hubert, Steve Reaves, Jessica LaPointe, she's, “ We’re, , Hubert, , Washington gridlock, we've, Tom Vilsack, Johnny J, Jones, ” Jones, LaPointe, ” LaPointe, Reaves, Organizations: WASHINGTON, Security Administration, Federal Emergency Management Agency, FEMA, Social Security, Disney, TSA, American Federation of Government Employees, Democrats, White House, USDA, Social, Republicans, Public Service Locations: Fort Lauderdale , Florida, Madison , Wisconsin, Washington, AFGE
CNN —The FBI agent managing the team on the Hunter Biden criminal case testified to the House Judiciary Committee that US Attorney David Weiss had ultimate authority over the case, contesting testimony brought forward by whistleblowers. “I don’t have a recollection with him saying that there or at any point in my communication with Mr. Weiss,” Sobocinski said. “I wanted to go on record in the room of the leaders who were involved in this investigation,” Sobocinski said. “Thought that it was no, and nobody in that room raised their voice to say anything other.”Sobocinski also addressed broader claims made about how the Hunter Biden criminal investigation has been handled. But Sobocinski was not permitted to discuss the ongoing criminal investigation.
Persons: Hunter Biden, David Weiss, Thomas Sobocinski, Weiss, ” Sobociniski, “ There’s, Joe Biden’s, Gary Shapley, Shapley, “ Weiss, , Sobocinski, , ” Sobocinski, Mr, , Tristan Leavitt, Mark Lytle, Joseph Ziegler, Merrick Garland, Russell Dye, Jim Jordan, General Merrick Garland, ” Shapley’s, Hunter Biden’s, Hunter Organizations: CNN, FBI, Committee, The Washington Post, House Republicans, Republicans, Internal Revenue Service, IRS, Department, SSA Shapley, Criminal Investigation, Ohio Republican, Judiciary, Justice Department, GOP, Service, Department of Justice, of Justice Locations: Baltimore, Ohio
The vast majority of older Americans get Social Security benefits, which either partially or even fully fund their income in retirement. Social Security is 'America's pension safety net'Virtually every retiree receives some sort of guaranteed income stream — and Social Security is "by far" the most prominent of these income sources, Blanchett said. About 97% of Americans age 60 and older either receive or will collect Social Security benefits, according to Social Security Administration data. Workers would continue to pay Social Security payroll taxes, and those collected funds would still be payable to retirees. There will be 'losers'Congress will almost surely tweak Social Security to fix the solvency problem.
Persons: MoMo, David Blanchett, Blanchett, Doug Boneparth, Lorie Konish Organizations: CNBC's, Finance, Security, U.S, Social Security, Prudential Financial, CNBC, Social Security Administration, Insurance, Workers, Social, SSA Locations: PGIM, New York
Together, experts say, these efforts aim to enhance China’s military reach, which currently includes only one operational overseas naval base in Djibouti on the Horn of Africa. “It’s a question of when – not if – China will secure its next overseas military outpost,” he said. This photo taken on August 1, 2017, shows Chinese People's Liberation Army personnel attending the opening ceremony of China's new military base in Djibouti. The Hambantota commercial port in Sri Lanka has long been considered a prime candidate for a Chinese naval base. However, China’s path to developing permanent overseas bases, if indeed that is its aim, is not straightforward.
Persons: FDD, Craig Singleton, , , , Tea Banh, FDD’s Singleton, Tang Chhin Sothy, Singleton, Xi Jinping, Stringer, ” AidData, Stephen J, Townsend, ” Townsend, Bata, Ali Bongo Ondimba, Ken Ishii, , ” Singleton, China’s, Aaron Favila, Isaac Kardon, Kardon, ” Kardon, BlackSky Singleton, Rob Wittman, Fu Tian, Seth Moulton, ” Moulton, Martin Meiners Organizations: South Korea CNN, People’s Liberation Army Navy, Foundation for Defense of Democracies, People’s Liberation Army, PLA, Ream, Base, CNN, China’s Ministry of Defense, Ministry of Foreign Affairs, Ream Naval Base, ” Cambodian Defense, Cambodian, Getty, Fleet, Communist Party, US, Liberation Army personnel, William & Mary University, Sri Lankan Navy, US Africa Command, Gabonese, of, Xinhua, Naval Research Academy, Carnegie Endowment, International Peace, East China Seas, China, Control, Organization, Force, Strategic, International Studies, Defense Department, Chinese Communist Party, , Virginia Republican, The Defense Department, Qingdao Port, People's Liberation Army Navy, China News Service, America, Pentagon, US Defense Department Locations: Seoul, South Korea, China, Beijing, Washington, Cambodia, Argentina, Cuba, Djibouti, of Africa, Africa, West Asia, Gulf, Thailand, United States, Preah Sihanouk, AFP, Horn of Africa, , South, Taiwan, Virginia, , Sri Lanka, Bata , Equatorial Guinea, Gwadar, Pakistan, Kribi, Cameroon, Ream, Vanuatu, Nacala, Mozambique, Nouakchott, Mauritania, Colombo, Equatorial Guinea, Gabon, West Africa, South China, East Asia, East, Asia, Washington In Washington, Nanchang, Qingdao, Shandong province, Massachusetts
Ron DeSantis told Fox News he would consider cutting Social Security for younger Americans. Lawmakers on both sides of the aisle have sparred over changes to Social Security. DeSantis' campaign did not immediately respond to Insider's request for comment on how the candidate would reshape Social Security. "Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security," Trump said in a January video. Save Social Security, don't destroy it."
Persons: Ron DeSantis, DeSantis, Kevin McCarthy, Donald Trump, Trump, Julie Tippens Organizations: Fox News, Social Security, Service, GOP, Republicans, Social, Medicare, Security, Social Security Administration, American Federation of Government Employees, SSA Locations: Wall, Silicon, Florida
House Republicans are proposing funding cuts for the Social Security Administration. The union said Social Security recipients could face longer wait times to receive benefits. The union warned that the already underfunded agency could see its standing issues, like long wait times for accessing benefits and long lines at its offices, only worsen. "If you read our Commitment to America, all we talk about is strengthening Medicare and Social Security." Aside from Social Security, lawmakers could be facing a budget showdown this fall over a number of contentious issues.
Persons: , Julie Tippens, AFGE, Kevin McCarthy, Bernie Sanders, Elizabeth Warren, Sanders Organizations: Republicans, Social Security Administration, The American Federation of Government Employees, Social, Service, American Federation of Government Employees, Labor, Health, Human Services, Education, Security, GAO, SSA, Management, Social Security, Medicare, Federal, Aid, Democratic Locations: Wall, Silicon, America
Certain forms of identity theft, like synthetic identity theft or child identity theft, are harder to detect. You can also enroll in an identity theft protection service that can monitor the dark web for your information and provide identity theft insurance, usually up to $1 million. The best identity theft protection services will also provide you with personalized expert assistance if you experience more identity theft. While credit-related identity theft is more common, "identity theft can occur in other areas, including medical records, tax filings, social media accounts, employment history, and even criminal records," says Josh Amishav, founder and CEO of Breachsense, a data breach monitoring platform. Identity theft recovery frequently asked questionsCan you fully recover from identity theft?
Persons: you'll, David Burroughs, IdentityTheft.gov, You'll, Burroughs, you've, Equifax, Allen, Michael Bruemmer, haven't, Josh Amishav Organizations: FTC, Federal Trade Commission, Social, FBI, Social Security, Services, Social Security Administration Locations: AnnualCreditReport.com, Atlanta, Allen , TX, Chester ,
A Social Security number (SSN) allows the government and other entities to track personal information like employment history, tax contributions, and Social Security benefits. Qualifying reasons for new social security numberThe SSA outlines legitimate reasons to request a new Social Security number. Drawbacks of changing your Social Security numberA Social Security number change doesn't erase your financial history. New Social Security number frequently asked questionsCan you get a new Social Security number if your identity is stolen? Knowingly maintaining two Social Security numbers can result in a Social Security fraud charge, which can result in a maximum of five years in prison.
Persons: Nilsa Henriquez, Henriquez, , TransUnion, It's, you've Organizations: Social Security, Social, SSA, Social Security Administration, New Social
The legislation, sponsored by Idaho Republican Senator Jim Risch, would amend the National Labor Relations Act and the Labor Management Relations Act of 1947 to deter labor slowdowns and prohibit labor organizations from blocking the modernization of ports. It estimated a more widespread strike along the West Coast could cost approximately $1 billion per day. The recent union workers slowdowns impacted key transportation operations, including truckers, the freight rails and ocean vessels. As a result of the slowdowns, $5.2 billion in cargo was stuck off the West Coast ports. "The PLUS Act takes the important step of making intentional labor slowdowns an unfair labor practice.
Persons: slowdowns, Jim Risch, Ted Budd, Mike Crapo, Biden's, Julie Su, Risch, Biden, AB5, Budd, Crapo Organizations: Warehouse Union, Senate, Idaho Republican, National Labor Relations, Labor Management Relations, Pacific Maritime Association, U.S . Chamber, Commerce, Union Pacific, CNBC, Labor, California Labor, Workforce Agency, Capitol, Big Labor Locations: West Coast, West, Idaho, U.S, Los Angeles, Long, Port, Seattle, United States, North
A tentative deal between the Pacific Maritime Association and the International Longshore and Warehouse Union was announced Wednesday night, ending 14 days of worker slowdowns and stoppages that crippled port productivity. The new contract is for six years and will cover workers at all 29 West Coast ports. "We are also pleased to turn our full attention back to the operation of the West Coast Ports." In a landslide vote, ILWU Canada workers authorized a strike at Canadian West Coast ports as early as June 24. Correction: A tentative deal between the Pacific Maritime Association and the International Longshore and Warehouse Union was announced Wednesday night.
Persons: slowdowns, James McKenna, Willie Adams, Labor Julie Su, Su Organizations: Pacific Maritime Association, Warehouse Union, West Coast Ports, Labor, CNBC, SSA, Logistics, Canadian Locations: Coast, San Francisco, California, Los Angeles, Long Beach, Oakland, The, Seattle's, Port, Seattle, Canada, Canadian West, Panama, East Coast
The Port of Long Beach is the second-busiest U.S. container terminal and a key driver of economic activity. That industry accounts for about half of the volume at the nation's container ports and is gearing up for back-to-school, Christmas and key sales events. That facility is majority owned by container shipping giant Mediterranean Shipping Company SA (MSC). Pacific Container Terminal, owned by Carrix Inc's SSA Marine, was closed on Monday for normal operational reasons having nothing to do with labor, terminal general manager Randy Galosic told Reuters. Many West Coast terminals are fully or partly owned by those shipping companies.
Persons: Biden, dockworkers, David French, TTI, Lee Peterson, Randy Galosic, Lisa Baertlein, Will Dunham, Chizu Organizations: National Retail Federation, Mediterranean Shipping Company SA, Warehouse Union, Coast, Container, Carrix, SSA, Reuters, ILWU, Long, Thomson Locations: ANGELES, West Coast, Southern California's Port, Long, Oakland , California, California, Washington, TTI, Los Angeles, Oakland, Long Beach, West
A container ship is shown at the Port of Los Angeles in Los Angeles, California, November 22, 2021. Another Los Angeles Port terminal, Pacific Container Terminal (owned by SSA) announced Monday morning to truckers they would be closing the dayside shift on Tuesday. watch nowThe Port of Los Angeles, the nation's busiest port, processes $440 billion in cargo value per year. That market share has declined with more trade moving to the East Coast over the past year, at least partially due to labor issues on the West Coast that had supply chain managers worried about reliability of service. Recently, as the labor negotiations on the West Coast were said to have made progress, more trade started coming back.
Persons: Mike Blake, Paul Brashier, Brashier, ILWU Organizations: Port, Oakland, Logistics, CNBC, Marine Services, CMA, Maersk, Evergreen, ITS Logistics, Warehouse Union, Fenix Marine, Los Angeles Port, Container, SSA, Pacific Maritime Association Locations: Port of Los Angeles, Los Angeles , California, West, Los Angeles, Seattle, OOCL, COSCO Shipping, Sealand, West Coast, Port, East Coast, China, of Los Angeles, East, Long, Oakland
West Coast ports are shutting down as union workers "no show" after a breakdown in negotiations with port management. A source close to the situation told CNBC the port shutdowns are expected to spread across the West Coast as a result of lack of sufficient labor as workers protest over wage negotiations in contract talks with port management. Two of the Oakland port marine terminals — SSA, its largest, and TraPac — were closed as of the morning shift on Friday, said Robert Bernardo, spokesman for the Port of Oakland. The stoppages come at a time when activity at West Coast ports had picked up again after losing volume to the East Coast ports due to concerns about the volatile labor situation. At the Port of Oakland, total container volume increased for two consecutive months, with port officials optimistic about the upswing.
Persons: TraPac, Robert Bernardo, Bryan Brandes, Peter Friedmann Organizations: CNBC, SSA, Port, Fenix Marine, Oakland Maritime, Agriculture Transportation Coalition Locations: Coast, Port, Oakland, West, Port of Oakland, Los Angeles, Port of Hueneme, West Coast, East, South Korea, China
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New York CNN —It’s April 18, the official deadline to file your federal and state income tax returns for 2022. Whether you have already filed your tax return or still need to, the good news is this tax filing season has gone much more smoothly than the past three, which were hurt by the pandemic. But you may want to anyway if you think you are eligible for a refund thanks to, for instance, refundable tax credits such as the Earned Income Tax Credit. If you’ve already filed your return, you’re probably glad to have it in the rear view mirror. But one thing is common for the vast majority of US tax filers: Audit rates are exceedingly low.
Last-minute tax-filing tips
  + stars: | 2023-04-13 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +7 min
New York CNN —So far this tax season, the IRS has received more than 90 million income tax returns for 2022. If yours is among them, here are some last-minute tax-filing tips to keep in mind as the Tuesday, April 18 deadline approaches. But you may want to anyway if you think you are eligible for a refund thanks to, for instance, refundable tax credits such as the Earned Income Tax Credit. Proofread your return before submitting it: Do this whether you’re using tax software or working with a professional tax preparer. Note, however, that an extension to file is not an extension to pay.
On April 1, 2001, a US EP-3 spy plane collided with a Chinese fighter jet over the South China Sea. One of eleven left in the fleet, the tired 1960s-era spy plane bristled with porcupine-like antennas. Within minutes, however, the fighters had reached the lumbering spy plane, and while Zhao Yu hung back about a half-mile, Wang Wei rapidly closed in. In severe trouble, he immediately radioed the base, telling them he was unable to maneuver and being sucked in by the spy plane. "You are not allowed aboard the aircraft," Osborn said.
How to Fill Out a Form 1040
  + stars: | 2023-03-20 | by ( ) www.wsj.com   time to read: +15 min
Form 1040 contains every figure the IRS needs to calculate your tax bill or refund. The form is identical to Form 1040, but with larger text that makes the form easier to read.) Filing status and personal informationAt the top of Form 1040, you’ll indicate your filing status and provide your basic personal information. If you make estimated tax payments throughout the year, you might want some of your overpayment applied to your estimated tax payments for the following year. Signatures on Form 8879 can be electronic or physical, and once the form is signed you can submit your return for e-filing.
In the long run, this generation may also be hit by cuts in Social Security benefits. In the longer run, millennials' retirement may also be affected if Social Security benefits are cut. Millennials in their 30s are accruing debt faster than their peersWhile Experian and Credit Karma research show Gen X has the highest average debt, millennials still hold a lot of debt too — and are accumulating it faster than anyone else. Millennials face looming retirement insecurityIf all of that wasn't enough, millennials' retirement situation in the future could be different from Gen X and baby boomers. Additionally, millennials' retirement safety nets are likely to be affected if they can't get full Social Security benefits.
And two Congressional bills addressing the long Covid crisis — The “Covid-19 Long Haulers Act,” which would’ve collected data on long Covid patients with the goal of creating better care and treatment, and “The Care For Long Covid Act” would’ve improved research, centralized data and resources for people with Long Covid — died without making it out of committee. Disabled by long Covid since March 2020, she lives with her spouse and their 7-year-old son in Portland, Ore. “We didn’t design our life to be a single-income household.”Other long Covid patients have rearranged their finances, too. His company’s private long-term disability insurance pays a smaller percentage of the monthly benefit payout when federal disability pays a portion. “They’re not only dealing with long Covid complications, but they’re dealing with financial complications,” she said of her clients.
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