105

It is not a plot to rack up toll fees but to get you to pay them money to get the alleged legal proceeding halted. I too have received numerous such phone calls (most with faked Caller IDs with Area Code 202 (the area code for Washington DC)) and been told that an arrest warrant has been issued by the Federal Court in Santa Clara CA (sometimes Santa Barbara ...


40

To give up your Social Security number, you would probably have to renounce your citizenship, since merely leaving the United States, becoming a permanent expatriate, etc. wouldn't be enough. Paying Social Security taxes is mandatory, however. Even if your income exceeds the means testing limits, you are still required to pay Social security (FICA) taxes ...


34

There is no guarantee how much you will actually receive from Social Security. The amount you pay in does not go into an account set aside for you personally.


33

You'd need to talk with an attorney familiar with Social Security, or an appropriately qualified SSA representative to be sure - but all signs point to the idea that unfortunately Social Security does not work the way your father was told it would. And if he doesn't file to receive benefits the reality is actually much worse than "throwing away free money"! ...


29

Every company you work for will withhold from each paycheck 6.2% of your wages that are applicable to social security. Some items reduce your gross pay before social security tax is calculated. When your pay with that employer reaches the annual limit, the 6.2 percent levy ends. That means that for some workers the take home pay goes up for the paychecks at ...


28

You cannot buy your way into Social Security benefits. The only way to earn credits is by working in the U.S. and earning pay where Social Security tax is withheld. If you only need one credit, this could be obtained by working in the U.S. until you’ve earned $1320. Sources: AARP: Can You Buy Into Social Security? Social Security Administration: How You ...


26

The Social Security Administration mails documents; they don't call.


24

The purpose of this spammy Motley Fool video ad is to sell their paid newsletter products. Although the beginning of the video promises to tell you this secret trick for obtaining additional Social Security payments, it fails to do so. (Luckily, I found a transcript of the video, so I didn't have to watch it.) What they are talking about is the Social ...


23

If your annual salary exceeded the maximum amount subject to Social Security tax for 2013 ($113,700 as per JoeTaxpayer's comment), then it is possible that the last paycheck is what put you over the limit. Thus, part of the salary on the last paycheck had Social Security tax withheld and part did not. As JoeTaxpayer points out, there is no limit on the ...


22

Is that normal? Yes. It's in fact pretty low. Just the FICA taxes you pay are ~7.5%, so you're paying ~21% for State and Federal. Pretty reasonable, especially if you live in a high-tax state (which MA is ~5.3% on all income).


22

I work as a contractor at the Social Security Administration(ssa.gov), and am working on documenting an app we have (eMailer) that allows employees to send you email or texts with pre-approved content that does not involve your PII (Personally Identifiable Information) such as your SSN. Important information may come via email, not just postal mail, but ...


21

Assuming that you qualify for Social Security and it is still around when you are age 67, the biggest problem you will have is that for decades you will have 0 in your annual earnings. This calculator on the SSA.Gov website will let you enter zero income for future years, you will see what impact that has on your benefits. Using the default values for a ...


21

The Social Security payments for retirement are based on 35 years of indexed earnings. If you have less than 35 years of earnings, then your record will have zeros. If you have more than 35 years, the lowest indexed amounts will be dropped. If someone is receiving benefits but is also working, then the benefits are re-calculated (and thus increased) if one ...


20

The good news is that he probably won't be required to pay SS taxes. The bad news is that the reason will be because he can't get a job without a SSN. You don't get to just opt out of the social security system wholesale like that. However, there are some career options to avoid paying into (or getting paid out of) social security including jobs with ...


20

So long as you don't hate what you are doing, I'd say the price is somewhere in the neighborhood of $100-200 year of income to be worth the bookkeeping. I'd only say more than that if you have a ridiculously complex tax situation, you have an irrational hatred of filling out a few forms once a year, or if you just have such a stupidly large amount of money ...


19

Yep. You're single, you're possibly still a dependent on your parent's taxes (in lieu of rent), and you're finally bringing home bacon instead of bacon bits. Welcome to the working world. Let's say your gross salary is the U.S. median of $50,000. With bi-weekly checks (26 a year; common practice) you're getting $1923.08 per paycheck. In the 2013 "Percentage ...


19

(Your situation is not unique: lots of people have part-time "sole proprietorship" side jobs.) Any revenue from your mobile app business is... income. Therefore you have to pay tax on it. Even if the business operates at an overall loss, the Schedule C is required. Schedule C to determine your profit, and Schedule SE to determine taxes.


18

Not getting SSN has nothing to do with his/her liability to pay SS taxes. It just makes the life more complicated and you forgo your own tax benefits that you must have child's SSN to get. To request an exemption, your child must qualify under certain conditions and file a formal request for exemption with the SSA. See here for more details.


18

Of course you're being conned. Notifications of legal proceedings never come by phone. Never. All such calls are guaranteed to be scams. As for that call coming from the 210 area code, that's very unlikely. Spoofing caller ID is trivially simple and virtually all scammers do so. It's very unlikely the scammers were in the US at all where their calls can be ...


17

These two items (social security and taxes) should have also been withheld from any other positions you held previously. Both these items cover you in the future. Social security when you reach retirement age, or earlier if you are disabled. Medicare to serve a your health insurance when you are a senior citizen. Everybody who has wage income pays the ...


17

No. Switzerland is one of the few countries the United States has "totalizaton" agreements with (not to confuse with tax treaties) to work around this kind of thing. You can find the list of the agreements here. You can use the years you work in Switzerland to make up for the remaining credits you need to qualify for benefits in the U.S. When it's time to ...


17

Social Security tax only applies to the first $118,500 you earn in a year. See the Social Security Administration's website for more info. You should see a 6.2% increase in after tax earnings now. If you switch employers mid-year, they will start withholding social security again.


17

Social security has a maximum payout of not greater than $3600 per month ($43,200 per year). That figure requires planning and to be a high earner. The average is approximately $1500 per month ($18,000 per year). That average is barely more than the current minimum wage. Even if you live modestly and retire with no debt that is not much income. Other ...


14

He will be able to collect the full amount. From the Social Security website, emphasis added: If you were born January 2, 1943, through January 1, 1955, , then your full retirement age for retirement insurance benefits is 66. If you work, and are full retirement age or older, you may keep all of your benefits, no matter how much ...


13

From Socialsecurity.gov on Medicare: Medicare is our country’s health insurance program for people age 65 or older. Certain people younger than age 65 can qualify for Medicare, too, including those who have disabilities and those who have permanent kidney failure. From Socialsecurity.gov on Social Security: You can apply online for retirement ...


12

Yes you will get back the extra money at tax time. You are not able to adjust the withholding. Each employer will pay their share, and not get a refund, but at tax time, you'll get back any excess as if you worked one job. On the tax forms the data from each W2 is loaded, including the Social Security (FICA) withheld. There are a number of circumstances ...


12

Social Security is paid on a monthly basis. From the program's website: SSI (Supplemental Security Income) Benefits SSI benefits are paid of the 1st of the month. Unless the 1st falls on the weekend then the payments will be issued the Friday before the 1st. Your father will only get these if he is eligible for them. RSDI (Retirement, Survivors and ...


12

Your contributions that you've already made are made and done, and will not disappear. What the Windfall Elimination Provision does is make sure that people do not collect the subsidized low-income payments while also collecting a full pension. People who did not pay anything into SS are able to collect money - less, but still something - from the system. ...


12

You cannot buy credits, but work outside the US can count. Norway is one of the countries that work qualifies: https://www.ssa.gov/planners/retire/international.html


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