As if the Part D Medicare prescription drug program hasn't created enough bureaucratic headaches around the holidays for American seniors, here's one more problem.
This mistake will affect many retirees who have deductions for Medicare Part D or Part C deducted from their Social Security checks.
The Social Security Administration has sent out a notice that 2.7 million of its 53 million beneficiaries received incorrect information on their SSA-1099 tax forms.
The SSA apologized for the programming error and said it would be sending out corrected statements by Jan. 25.
The programming error caused the 2006 Part C and Part D payments to be included in the 2007 data. That means the Social Security numbers won't jive with those reported to the IRS.
In some cases, the Social Security statement will show more income than was actually paid, he said. In others, there will be an error in the amount withheld for Part D, which will affect a taxpayer's itemized deductions.
Seniors should be advised to wait to file their income taxes until they receive a corrected statement, if they get one.
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