The IRS announced it is using internal data to identify taxpayers who filed a 2021 tax return but did not claim the Recovery Rebate Credit (worth up to $1,400). The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments (EIP), also known as stimulus payments.The IRS [...]

Effective Tuesday, January 7, 2025, the income guideline for the NYC Fair Fares program has increased from 120% FPL to 145% FPL, expanding access to more households.The program provides a 50% discount on public transportation to eligible low-income New Yorkers.New York City (NYC) residents may be eligible for Fair Fares NYC if they are:Between the ages [...]

For 2025, there will be a 2.5% cost of living adjustment (COLA) to Social Security and SSI benefits.The following are the federal monthly SSI benefit amount for 2025 (there is no increase to the NYS state supplement amount):For an individual living alone: $967, plus the NYS supplement of $87, for a total of $1,054.For a couple [...]

Medicare’s Annual Election period, running from October 15 – December 7, 2024, provides an opportunity for people in Original Medicare with a Part D plan, or those in a Medicare Advantage Plan, to review their plan options for 2025 and make any changes.  Beneficiaries with Original Medicare can switch Part D plans; those in Medicare Advantage [...]