Social Security, IRMAA, QLACs, MYGAs, and Taxes: Q&A #2348

December 2, 2023

Social Security, IRMAA, QLACs, MYGAs, and Taxes: Q&A #2348

Jim and Chris sit down to discuss listeners questions relating to Social Security, IRMAA, QLACs, MYGAs, and taxes.

(13:30) A Mississippi listener asks if his wife will have to pay back her Social Security benefit after going back to work.

(26:00) A Virginian listener asks about the latest possible dates he can use when filing form SSA-44 to avoid any IRMAA impacts.

(36:00) A listener in Arizona asks about QLACs and any early withdrawal penalties on multi-year guaranteed annuities (MYGAs).

(1:10:30) George from Kansas City looks for clarification on how a client can avoid quarterly tax penalties while not recognizing a massive amount of income for the year.

Podcast: Play in new window | Download (Duration: 1:21:46 — 37.4MB)

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