Money

It’s a tax break right there for the taking — but many Utah residents aren’t taking it.

State retirees paid into Social Security throughout their working lives and now count on it to make ends meet. What they don’t appreciate is having to pay state taxes on that vital retirement money. But Utah is one of 13 states that tax Social Security income.

WASHINGTON — The Internal Revenue Service today concluded its annual "Dirty Dozen" list of tax scams with a warning to taxpayers to remain vigilant about these aggressive and evolving schemes throughout the year.

by Micah Festerly, Management and Program Analyst in Taxpayer Outreach, Partnership and Education with the IRS

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To our readers: The AAA Fair Credit Foundation is based in Salt Lake City and is a partner with AARP Utah on teaching how to save and plan for the future. This is one story about a family they helped through their Individual Development Accounts Program. We thought it was a heartwarming example of what planning for the future can do for a family.

It has been a whirlwind legislative session with a lot happening but as of last night it has come to a close. I want to thank you and all of the other great AARP advocates who stayed informed, got engaged, and made their voices heard to their legislators. I can’t stress enough that without your involvement, we could not do the work we do!

We need your help to keep SB133, Small Employer Retirement Program, moving toward becoming law. This bill will help Utah workers have access to retirement savings vehicles at work. The Senate voted to approve the program but it is now headed to the House. The bill is facing new opposition from groups who benefit by keeping this current market confusing and high-cost for small businesses owners.

Social Security Turns 80, Loved by Americans of All Ages

Social Security turns 80 on August 14, 2015 and has fulfilled the promise made by President Franklin D. Roosevelt when he signed it into law, that it would “protect the average citizen and his family against the loss of a job and against poverty-ridden old age.” It has done just that. In Utah alone, Social Security lifts 94,000 Utah retirees from poverty; 42 percent of the state’s population age 65 and older would have incomes below the poverty line without Social Security. [1]