form SSA 44

[CherylS872986]

I will be retiring  sept 2024.   I’m looking at this  Form and don’t know what year to enter as my tax year .  Do I enter 2024 ? even though it won’t be reduced by that much since I’m retiring the end of Sept  and I will be slammed with IRMMA .   However ,  2025 will be greatly affected by my retirement . It’s confusing to know what year to enter .  When you do submit this form do you send a copy of your tax return too ?? 

[GailL1]

@CherylS872986 

READ the form

• You DO NOT submit SSA-44 until Social Security assesses you an IRMAA  - The form says:  [quote] “You may use  this form if you received a notice that your monthly Medicare Part B (medical insurance) or prescription drug coverage premiums include an income related monthly adjusted amount (IRMAA) AND you experience a life-changing event that may reduce your IRMAA.
• You haven’t gotten this notice yet -
• plus any 2025 IRMAA assessment will be based on your 2023 income (2-yrs before) or an older one if that one isn’t filed - the SSA has access to when they determine any IRMAA surcharge.

If you have trouble filling it out AFTER you get the assessment next year - and IF you get one since you didn’t say what your income was for (tax year)  2023 - if you can’t figure it out - come back here for help.  But it will probably make more sense then too.

Don’t jump the gun - government does what it’s work flow procedures are set up to do - jumping the gun just confuses them - so just retire and wait for any assessment  of IRMAA from the SSA if it is applicable to you.

SSA.gov - Form SSA-44 and Instructions. 

[CherylS872986]

PS. thanks  so much. for your reply.   

[CherylS872986]

I have no intention of completing this form NOW ,  I know. it’s too early yet, I’ve read this form   and  I’m 100% sure I will be assessed IRMAA charges .  No doubt- based on my working income. As I stated I’m working and getting SS . I will retire from my job. end of sept last work day.  Incomes for 22-24. if used will be subject to IRMAA.   2024. will to because I worked most of 24,  My  25. income will be greatly decreased  due to retirement.   So I guess when I do complete this form I will have to estimate 25-  for Step 2. .  

[GailL1]

Then after the IRMAA amount is assessed, you complete SSA-44 and use the WORK STOPPAGE as your life-changing event.  If this (salary income removal for TY 2024) gets you down below the income level for IRMAA, you will be fine.  If not, it will lower the amount of IRMAA assessment depending on your other income.

As I said before, you don’t have to do anything until you get the assessment of IRMMA surcharges from the SSA.  Late fall or early winter - 

Just don’t do things like take a large IRA / 401K distribution or even covert any of these pre-taxed retirement plans to a ROTH IRA cause that counts as income.

Same for the next year 

[CherylS872986]

Unfortunately I will be working most of 2024, so no. my  AGI  will still be high . So 3 months of not working won’t really help.  However , the real change will be in 2025 when I will have no work income , just retirement benefits and SS .  And since you can only submit this 44 form once a year I want to make sure the tax year for step 2 is correct.  It seems little difficult bc I worked most of 2024  so if I’m paying IRMAA  in 2025 it will be paid from a huge income reduction .  

[cat0w]

Have you been to the Social Security website and created an account? Have you already checked there to see what is required? Are you already drawing some type of Social Security benefit?

The United States Social Security Administration | SSA

SSA 44 - Search (bing.com)

[CherylS872986]

Yes I’m getting SS now , I just applied for Padt B medicare . So it hasn’t been processed yet .  I will retire the end of Sept ,  So if I put in the SSA form 44. in step 2,  2024 then I’ll be paying IRMAA bc of receiving my work paycheck for 9 months.  So I’ll go into the year 2025. with a reduced income due to retirement ,  but. it seems I’ll be paying I. IRMAA  because my income in 2024 will be above the income premium.  I’m really upset because I don’t  know exactly how I need to fill out this SAA 44 form .  Of course I haven’t received any kind of notice about paying IRMAA , but I definitely will once my part B application is proceed 

[cat0w]

Check out the videos in the link I provided and see if they help. See example image below of what videos are provided.

[CherylS872986]

I watched several videos , however I really didn’t find an answer to my most pending question . My retirement will be as of Oct 1,24.   IF I put my AGI for 2024 , in step 2 , since I’ve worked almost the entire year that will Not help reduce the premium , SO I will go into 2025 - totally retired , income greatly reduced. but will pay IRMAA  because I retired. close to the end of 2024-  None of the videos said anything about this issue of retiring toward the end of the year and IRMAA

[CherylS872986]

I will . I’m so , so stressed out about this . I still have a month to work and have to deal with the retirement process at work too .   Any help is certainly appreciated.