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Social Security

Herald & Lantern 2 November *63

NEPTUNE’S JEWELS AND SENIOR CITIZENS ARE SPECIAL SPECIAL DISCOUNTS STOREWIDE ON ALL -HANDBAGS, •JEWELRY, AND -LEATHER ACCESSORIES

Half SS Benefits Taxable in 1984

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Up to half of the Social Security benefits received by people with higher income will be subject to the Federal income tax starting in 1984 under one provision of a new law, a Social Security representative said recently. The new law is designed to solve the financial problems faced by the Social Security system, the spokesperson said. The money saved and new income raised by the law is designed to put Social Security on a sound financial footing. UNDER THE new law, up to half of a person's Social Security benefits will be included in his or her Federal taxable income if adjusted gross income plus nontaxable interest and half of his or her Social Security benefits exceeds a base amount. The base amount is $25,000 for an individual;

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$32,000 for a couple filing jointly and zero for a couple filing separately. The amount*of benefits that will be included in taxable income will be the lesser of • one-half of the benefits received, or • onehalf of the excess of the person’s combined income over the base amount PEOPLE RECEIVING benefits may want to keep a record of the benefits they receive in 1984 to

make figuring their 1984 taxes easier, the representative said. Detailed information about how- to figure taxes will be available from the Internal Revenue Service later in the year. A free leaflet, Social Security Strengthened, which tells about all the changes in the Social Security law, is available at any Social Security office.

Correct Reports Important for SSI

It is very important that people receiving supplemental security income (SSI) payments report every event that could affect the amount of their payment, a Social Security spokesperson said recently. At the very least, failure to report an event can result in the person receiving a payment that was not due. This money would have to be paid back. In addition, the person may have to pay a penalty of as much as $100 for not reporting when he or she was supposed to. Reports can be made by telephone, by mail, or in person. Any report should include name, Social Security claim number, change being reported, date it occurred, address, and signature if the report is made by mail. THE FOLLOWING changes must be reported ; any change of address or move; a change in household — if anyone moves in or out of the home; a person enters or leaves an institution; a person leaves the U.S.; marriage or end of marriage; a person’s income changes. Any change in a person's resources, what he or she owns; if a person is a sponsored alien; change in

school attendance for person under 22; a drug addict or alcoholic stops treatment; a person cannot manage funds; a person dies. A PERSON getting SSI because he or she is disabled or blind must report if his or her condition improves, taking a job, or there is change in work expenses. More detailed information about reporting requirements can be obtained at any Social Security office.

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Bazaar Set

ERMA — The Airport Senior Center will hold its Christmas Bazaar at Building 29 of the County Airport, Breakwater Rd., 9 am.-3 p.m. Thursday, Nov. 10. For sale will be handcrafted Christmas and gift articles, including calico cats, ceramics, crocheted, knitted, loomed, macrame, needlepoint and woodcrafted items, crystal bead creations, clowns and wreaths. A baked goods sale will be held noon- 3 p.m.

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