Someone illegally using your Social Security number causes a lot of problems. Learn what to do if this happens to you.
Posts tagged "social security"
Social Security Statements Now Available Online
You can now get your Social Security Statement online. The online option is the only way to receive your statement unless you are 60 or older or turning 25 this year.
The statement provides estimates of the retirement and disability benefits you or your family may receive, making it important to have when financial planning. You can also use it to make sure your earnings are being accurately posted to your Social Security record. Incorrect reporting could mean that you won’t receive the benefits you are entitled to.
The statement also provides:
- A list of your lifetime earnings according to Social Security’s records
- The estimated Social Security and Medicare taxes you’ve paid
- Information about qualifying and signing up for Medicare
- Things to consider for those age 55 and older who are thinking of retiring
- The opportunity to apply online for retirement and disability benefits
- A printable version of your Social Security statement
To get a personalized online statement you must be able to provide information about yourself that matches information already on file with Social Security. Some people may not be successfully verified through this process. If you have trouble with verification you can request that a paper Social Security Statement be mailed to you. You can also visit your local Social Security office and present an identity document in order to create an account and gain access to the online version.
Asked by Anonymous
How do I sign up for direct deposit for SS check?
If you already receive Social Security or SSI benefits and you have a bank account, you can sign up for Direct Deposit by:
- obtaining a password and starting or changing Direct Deposit online (Social Security benefits only), or
- contacting your bank, credit union or savings and loan association, or
- calling Social Security toll-free at 1-800-772-1213 (TTY 1-800-325-0778), or
- filling out a Direct Deposit Sign Up Form (PDF) and taking or mailing it to your Social Security Office.
Learn more about signing up to get your Social Security benefits through direct deposit.
Asked by Anonymous
What is the fica tax rate for employee and emplorer for 2012
When you work for an employer or are self-employed, you must pay payroll taxes that fund Social Security. These taxes are collected under the authority of the Federal Insurance Contributions Act (FICA) and commonly called FICA contributions.
The FICA tax rate is set by law. From 1990 to present, the total tax rate paid by employees and employers is 7.65%. This is made up of a 6.2% contribution to the Old-Age, Survivors, and Disability Insurance (OASDI) program and a 1.45% contribution to Medicare’s Hospital Insurance (HI) program.
Self-employed workers currently contribute 12.4% to OASDI and 2.9% to HI.
In 2011 and the first two months of 2012, the OASDI tax rate is reduced by 2% for both employees and for self-employed workers.
Learn more about Social Security and Medicare tax rates or FICA.
