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Notice of Increase in Taxable SS

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    #1

    Notice of Increase in Taxable SS

    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.
    Last edited by Burke; 10-20-2012, 11:50 AM.
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    #2
    I probably got the same,but trashed it since it didn't come from SSA.
    ChEAr$,
    Harlan Lunsford, EA n LA

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      #3
      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)."
      "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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        #4
        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.
        Last edited by Burke; 10-18-2012, 04:32 PM.

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          #5
          This Better Business Bureau Review might be of interest...

          Just a moment...
          http://www.bbb.org/washington-dc-eastern-pa/business-reviews/elderly-senior-specialty-services/national-processing-center-in-washington-dc-1033799/
          "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

          Comment

            #6
            Hey, thanks for the shout out

            Originally posted by Burke View Post
            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.
            Last edited by RitaB; 10-19-2012, 10:41 AM.
            If you loan someone $20 and never see them again, it was probably worth it.

            Comment

              #7
              Originally posted by JohnH View Post
              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.

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