This is part of Biden's Unrealized Capital Gains, strategy. I'm an hourly, and can not determine how much I earn except by working OT or not. I was expecting the clawback for my 22,000 Over cap (I owe 11K), but I wasn't expecting them to pro-rate this year and suspend for additional months.
I can quit working now and be around the cap, which would stop them automatically suspending me for this year, but still owe for last year. I can liquidate Assets and pay them for one or both years, but they don't charge interest so...
WTAF, they still take SS taxes from your pay, clawback half of earnings limit overages, and whatever you actually get from SSA is taxable as income.
Omg - my husband of 32 years died a little over two years ago— I filed as a single last year — live on social security except for $1950 from art work— had to pay $110 tax ( under $27000/year) yet many people who have never worked or paid into the system get more money than me and my peers who worked all their lives— WTH
This is why we need a full blown tax strike