Today’s column addresses questions about recalculation of benefits after earning continuing income, how the family maximum that can be claimed on a single record is calculated and how divorced spousal benefits are calculated for business owners. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,
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Tax Notes Capitol Hill reporters Doug Sword and Frederic Lee examine the record-breaking budget and infrastructure legislation advancing on Capitol Hill and preview potential tax policy proposals coming this fall. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This
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zimmytws | iStock | Getty Images A new report released by the Social Security Administration on Tuesday reveals new estimates of just how much the Covid-19 pandemic has impacted the program’s already ailing trust funds. The results show the funds from which the program pays benefits have been “significantly affected” by both the pandemic and
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In her twenties, Mickey became the single mother of three children under five years old. The resulting challenges she faced defined much of her life. She had to support the family on a secretary’s salary and navigate a not-so-friendly professional world while mothering her son and two daughters, paying the bills, and saving for retirement—all
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A recent Tax Court case considered its jurisdiction when the IRS erroneously included a denied innocent-spouse relief claim for a prior year in a later determination for another year. As the case holds, that later determination can effectively revive the Tax Court’s jurisdiction over the denied claim for the prior year because of its inclusion
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Deciding to take ownership over your retirement and savings goals typically starts with one important step: Automation. Financial experts and voices almost universally begin the savings process with the idea of automation. Why? Because it allows you to move money into either short-term savings or long-term retirement accounts without ever seeing the funds within your
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