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This morning, I checked my U.S. bank account where my Social Security check is electronically deposited during the first few days of each month. Surprise! My January payment has arrived. Has anyone else had this experience?
Seems like, in general, the payor would want to hold the money in its own account for as long as possible rather than paying early, unless, of course there is some ulterior motive. All I can come up with is that by paying January’s payment on December 31, that makes it taxable in 2009.
Anybody have any insights?
David…. Might have more to do with the timing of the weekend and the usual due date of your payment. But then again… paying you in year 2009 and making it taxable NOW does make some sense. This way 2009 has 13 payments and the tax is due by April 15 2010…. or perhaps Uncle same is just in the holiday spirit and wanted everyone to enjoy the New Year with a little extra green in their pockets!
Happy New Year!
[quote=”Imxploring”]David…. Might have more to do with the timing of the weekend and the usual due date of your payment. But then again… paying you in year 2009 and making it taxable NOW does make some sense. This way 2009 has 13 payments and the tax is due by April 15 2010…. or perhaps Uncle same is just in the holiday spirit and wanted everyone to enjoy the New Year with a little extra green in their pockets!
Happy New Year![/quote]
you know everytime I read about someones story about social security checks motivates me to push forward to arrive at a point I never have to worry about things like.. my social security checks being deposited.
happy new year
I have a similiar predeposit of my monthly VA disability compensation. I suspect the holiday played a factor, in terms of Treasury processing deposits.
it has to do with when the 3rd falls. next month it is on a sunday. so you would normally get your check on the friday before. with the new year holiday being on friday, we got out checks early for that reason, and that reason only.
I “retired” Oct 1,2009. My other retirement income (non-government) paid me for Oct on the 20th, and for Nov on Oct 31. In other words, in [i]advance.[i] Now here comes my own theoretical money from the government (SS), and they pay [u][i]retroactive[/i][/u] for the last month. Am I thinking correct, when you do that with the millions who sign up ALL get paid as if they were on a timeclock…”Oh, he’s still alive, pay him for last month.”
they don’t want to be out any money if you croak after they paid you. just die and see how fast they cut off those benefits. the first call you have to make after the funeral home is SSA.
yep — first you call the funeral home to have them come and get the body, then you call SSA. i guess i didn’t make that clear. jejeje
I’m guessing that if “you” need the services of a funeral home chances are you’re not making many phone calls! That will be up to those left to take care of business after you’re gone. LOL
It is funny that you have to live the entire month… and only then will they pay you! And keep in mind this is after years of working away where THEY got their taxes FIRST before you even got your paycheck!
well, of course, if it were me who had died, i wouldn’t be making any calls, but when my mom died at home, we called the funeral home and when they got there they handed us a list of places and people we should contact to notify of the death, and the first one listed was SSA, then other pensions, insurance, etc.
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