Social Security Disability Lump Sum
Here's an article from Market Watch on social security disability benefits and taxation that I thought might be interesting.
Worth noting from the article:
1. SSA paid out about eight and a half billion dollars in disability (and related) benefits in 2005.
2. "you can't seem to get your application approved without doing battle with the Social Security Administration for years".
I had no clue regarding the benefit outlay for 2005 (or any other year), but 8.5 billion is a meager amount when compared to many other budgetary items. Regarding the quote I used from the article, however, that's unfortunately true. If an individual is not approved for disability at the intial claim or application level, it may take as long as three years to get benefits awarded, assuming that the claim is pursued as least as far as the disability hearing level.
How to slash taxes on Social Security disability payout
Return to the Social Security Disability SSI Benefits Blog
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Overpayment owed to Social Security Administration