Friday, September 21, 2012

Trying to Correct a Social Security Earnings Error

In August 2012, I noticed an error in my earnings report: the amount earning taxed for Social Security and Medicare were different, which is not possiblessince my earnings were below the maximum earnings taxed for Social Security. I thought this would be a simple error to resolve.   NOT!

I called Social Security to explain the disceprancy and expected immediate resolution.   Unfortunately, my expectations were too high.   First, the representative told me that the number were different because Social Security and Medicare were taxed at two dfference rates.  With great self control, I explained that I agreed the rates were different, but the numbers were supposed to be my earnings that were taxed, which should not be affected by different tax rates.  After putting me on hold twice, the representative finally agreed that I was correct.

Second, she told me that the only way to correct the error was to fill out a form that would be sent to me.   It's been at least a month and I'm still waiting for the form.  So I will need to call Social Security again to get the form.

At this point, I still have several years to correct the discrepancy so I don't have a great sense of urgency yet.  Right now, I only have a great sense of disappointment in the ineffectiveness of the Federal government to resolve such a simple verifiable error.

For more on  Reaping the Rewards, check back every Friday for a new segment.
This is not financial or retirement advice. Please consult a professional advisor.

Copyright © 2012 Achievement Catalyst, LLC

1 comment:

Kurt @ Money Counselor said...

Good luck with this bureaucracy. My guess is you'll be eligible for SS before it gets corrected, if it ever does.