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Submitted By: Soledad
Answered: May 22, 2015 12:02 pm
Answered: May 22, 2015 12:02 pm
I’m 63 years old and collect Social Security benefits. How much can I earn in 2015 without any reduction in my benefits?
The earnings limit for those like you who have not yet reached the full retirement age is $1,310 per month, or $20 more per month than in 2014. If you exceed this limit, you’ll lose $1 of benefits for each $2 of benefits over the limit.
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Tax Glossary
Private letter ruling
A written determination issued to a taxpayer by the IRS that interprets and applies the tax laws to the taxpayer’s specific set of facts. A letter ruling advises the taxpayer regarding the tax treatment that can be expected from the IRS in the circumstances specified by the ruling. It may not be used or cited as precedent by another taxpayer.
