QUESTION
Can I reduce the amount of ss overpayed to me while working
Asked on Jun 24th, 2014 on Social Security - North Carolina
More details to this question:
I turned 65 in Oct 2013 I have hardly made any money in the last two years because of the economy, but I go lucky and landed a contract job and earned $65k in 2013, most of it during the last 7 months of 2014. SS now says they overpaid me 15K of the 22K they paid me in 2014. I have been unemployed since Jan 2014. Can I reorganize my earnings and taxes to owe SS less?
1 ANSWER
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Dear Anonymous,
The overpayment will likely remain at its current amount, but you can ask that it be repaid in very small monthly amounts. In some cases, they will accept as little as $25 per month in a repayment plan. However, if you enter into a plan with them, you MUST remain current in your payments or it will void your payment plan and they will request repayment in full within 30 days. Your unemployment status does not change the amount of the Social Security benefits you received.
This response does not form an attorney-client relationship, nor should it replace a full consultation with an attorney. Please be advised we cannot give full and complete legal advice without further information that is not capable of being conveyed in this format. If you would like to receive a free consultation regarding your possible legal matter, please feel free to call us at 855-234-7619.
Answered on Jul 18th, 2014 at 7:24 AM