Closing Two Social Security “Loopholes” in 2015 & 2016
The Bipartisan Budget Act of 2015, which went into effect November 2, is closing two important Social Security strategies we have recommended to clients in the past. Changes to “File and Suspend” and “Restricted Application” Social Security rules will affect the amount of Social Security benefits many married couples will be eligible to receive in the future.
If both spouses currently receive Social Security, then you and your spouse’s benefits will not be affected.
Click below for a more detailed explanation of the expiring loopholes, who this affects, and when they expire.
Please give our office a call if you have any questions.