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HomeTechDon't Lose the COLA Letter You Received in December 2023. Here's Why

Don’t Lose the COLA Letter You Received in December 2023. Here’s Why

In December, the Social Safety Administration mailed out vital letters to all Social Safety beneficiaries about their new cost-of-living adjustment improve. Don’t lose that piece of mail — you could want it this yr.

This story is a part of Taxes 2024, CNET’s protection of the very best tax software program, tax suggestions and all the things else it’s essential file your return and monitor your refund.

The letter reveals how a lot your new profit quantity needs to be for 2024, and you could want to make use of it in the event you’re planning to use for loans or power help. 

Simply as vital, if the primary COLA cost you obtained in January wasn’t what you anticipated, you can also make an enchantment to the Social Safety Administration and use your COLA letter to point out proof of the meant cost quantity. For extra particulars about your Social Safety advantages, use this cheat sheet for understanding your 2024 advantages. Additionally, discover out in the event you really have to file your taxes this yr.

I did not get my COLA letter. Now what?

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The Social Safety Administration informed CNET that it despatched out letters within the mail all through the month of December, so you must have already obtained your discover.

Nevertheless, in the event you suppose you could have tossed or misplaced it, contact the Social Safety workplace as quickly as doable. The administration will help you monitor down the place the letter is or change it if it is misplaced.

Is my new profit quantity on-line someplace?

You may be capable to discover your 2024 profit quantity on-line in the event you had a web based My Social Security account arrange earlier than Nov. 15, 2023. In that case, you’ll entry your assertion within the Messages Middle. In any other case, you may want to attend for a brand new letter to reach after you request it.

For extra, discover out whether or not the COLA improve will have an effect on your taxes this yr. Moreover, in the event you anticipate to get a tax refund this yr, here is the quickest option to get it.

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