Notice of Increase in Taxable SS

[Burke]

Today in the mail, I received the following:

"The Federal Govt has increased the taxable amt of your SS benefits. This is due to a provision in the tax code that allows the IRS to increase the tax on your benefits from 50% up to a total of 85%. (Can you believe that?) This could significantly impact you! There is a plan that will allow you to legally eliminate the tax on your Social Security income. The Federal Government will not notify you of your eligibility and as a taxpayer, you have a right to know. For FREE hard facts and straight answers on how to stop paying tax on social security income, return the attached postage paid card today."

To paraphrase RitaB, I am so happy to learn this procedure the government does not want me to know about, I could just spit.

[ChEAr$]

I probably got the same,but trashed it since it didn't come from SSA.

[JohnH]

People ask me all the time how they can avoid the income tax on Social Security benefits.
My answer is always the same - "Receive less income (and adjust your lifestyle accordingly)."

[Burke]

Interestingly, the return address is National Processing Center, 325 Pennsylvania Ave, in Washington DC. I know it's a sham, but I worry about my clients who get this stuff. Note it says "increase the tax on your benefits from 50% to 85%" not the taxable part of your benefits. It's probably a pitch for a tax-deferred annuity.

[JohnH]

This Better Business Bureau Review might be of interest...

http://www.bbb.org/washington-dc-eastern-pa/business-reviews/elderly-senior-specialty-services/national-processing-center-in-washington-dc-1033799/

[RitaB]

Hey, thanks for the shout out

To paraphrase RitaB, I am so happy to learn this procedure the government does not want me to know, I could just spit.

Could not have said it better myself.

Cannot wait to discuss with my clients again that I am not making an error on that taxable SS. It doesn't help to tell them they have drawn out way more than they contributed (why am I paying tax on a tax?), and that there's a worksheet on the back of that form they get that is sealed with glue balls, BTW.

[Burke]

This Better Business Bureau Review might be of interest...

http://www.bbb.org/washington-dc-eas...on-dc-1033799/

Yeah, thanks John. I found stuff on this "business" that goes back to 2004. They have been around disseminating this trash for a while.