Social security
Was being paid as a consult for a company for 35 years. Was told by our accountant that I should apply for my social security at 63 years old and still work. The company I was working for was audited by the irs and was told by the auditor I had to be paid as an employee with taxes taken out of my paycheck. Now I am paying social security and all the other taxes deducted from my payroll check and also paying taxes on the social security that I was told to take when I was 63 years old. Because of the company audit can I reverse my decision to get my social security every month so I am not paying so much in taxes. Thank you.
Terry Says
Oh, that was TERRIBLE advice! If you started taking SS less than one year ago, you can still reverse your decision. And please tell that accountant that I suggested you sue him — for the advice that (if you can’t reverse it) will cost you a fortune in SS benefits over your lifetime!
Read this article at the SS website to learn more about reversing your decision.
