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They get their information from the employers W2 's and those were due the end of January. They need time to process.
I had always assumed the information came from the IRS. People who are self-employed do not receive W-2's, but do report their income and pay the FICA taxes on it when they file their tax returns.
If one is already receiving SS retirement benefits and if the additional income results in a higher benefit amount, that adjustment will take place near the end of the following calendar year. That is, the 2014 earnings will result in a retroactive payment near the end of 2015 together with an increased monthly amount from that point forward. I know that because that has been my situation for the last seven years in a row.
"SSA stores this earnings information as the Master Earnings File (MEF) and because it comprises IRS tax data, it is subject to IRS disclosure rules.1 This file contains data derived from IRS Form W-2, quarterly earnings records, and annual income tax forms. These data include regular wages and salaries, tips, self-employment income, and deferred compensation (contributions or distributions)."
"SSA receives information on employee wages from the employer on Form W-2 Wage and Tax Statement and Form W-3 Transmittal of Wage and Tax Statements, and on self-employment earnings from IRS data files derived from Schedule SE and the unreported wages and tips line item on Form 1040, U.S. Individual Income Tax Return"
"SSA receives information from employers and the IRS continuously; therefore the MEF is updated on a weekly basis."
"Because of the more than 250 million wage reports we must record, your earnings for last year may not show up on your record until late in the current year."
I had always assumed the information came from the IRS. People who are self-employed do not receive W-2's, but do report their income and pay the FICA taxes on it when they file their tax returns.
If one is already receiving SS retirement benefits and if the additional income results in a higher benefit amount, that adjustment will take place near the end of the following calendar year. That is, the 2014 earnings will result in a retroactive payment near the end of 2015 together with an increased monthly amount from that point forward. I know that because that has been my situation for the last seven years in a row.
That has been my situation as well. Before I started collecting SS I used to get an update in the mail every year. Do they no longer do that?
That has been my situation as well. Before I started collecting SS I used to get an update in the mail every year. Do they no longer do that?
They went paperless and urged people to register on their site and print out their own annual statement. I guess that didn't go over well because they announced they are going back to statements mailed out every 5 years.
This article is dated 9/2014 http://www.investmentnews.com/articl...ing-statements
Beginning this month, workers attaining ages 25, 30, 35, 40, 45, 50, 55, and 60 who are not receiving Social Security benefits and who have not registered for a My Social Security online account will receive a statement in the mail about three months before their birthday. After age 60, people will receive a statement every year.
I just checked mine and my 2014 earnings are still not posted yet.
That's not surprising. It says on the website that it takes 4 - 6 weeks for them to process. If your employer e-files (required if 250 or more employees), they may not even be submitting to SSA for 3 more weeks. If they paper file, the W3/W2s did not need to be post-marked until March 2 (since Feb 28 fell on a weekend).
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