Ask Larry

What Happens If Social Security Withholds More Of My Benefits Than Necessary?

thank you so much for answering my question . but i forgot to ask you if social security withhold more than what i owed what do they do with the rest of that money . i collect widow benefits and i will always get them because they were bigger than mine . thank you also also what if what i told them was more or less thanks

Hi,

If Social Security withholds more than is required for earnings test reasons, any excess withholding will be refunded to you after the year is over and your exact earnings have been established. Conversely, if you earn more than you estimated and not enough of your benefits are withheld, you will be expected to repay the amount that you were overpaid.

Best, Jerry

Category: 
Posted: 
Sep 21 2017 - 4:47pm
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.