We Can Keep the 💵

Yes, we have a resolution to those two Social Security Administration (SSA) deposits that were recently and unexpectedly made to our account and posted about here.

The deposits were on the up-and-up and really from the SSA.

What puzzled us (and others too) was that there no explanation was forthcoming from either the bank or SSA, and when contacted, an agent suggested that we wait and see.

So, while we remained clueless, yet didn't suspect this was a scam or spam email from either the SSA or the financial institution. After all, money wasn't being taken away, but given—quite the opposite effect. 

Who doesn't like that?

Turns out the deposits were legitimate SSA refunds due to a mistake that relates back to an earlier issue with the IRS associated with our 2020 tax refund. As of this past summer (2022) we hadn't yet received those monies or any information on the delay. 

After a lot of much persistence and a visit to the local IRS office, we spoke to an agent who explained that our return had been flagged as possible fraud, which it was not, but there was a different issue. If we hadn't followed up, that return might still have been sitting who knows where and neither did we. 

End of that story was a good one. About 12-weeks after that IRS visit, we received the 2020 refund with interest and I posted about it here.

Back to those SSA deposits . . .

It was a ripple effect in play since according to an explanation from the SSA, it received updated information from the IRS about our income. Turns out that we were due refunds since paying a higher income-related monthly adjustment amount (IRMAA) than was required.

Two letters finally came and made it as clear as mud in explaining that the SSA matched computer records with the IRS and determined that our 2020 modified adjusted gross income (MAGI) was lower than the amount used to figure out the IRMAA amount and concluded—You were due a refund because you paid higher IRMAA than required.

Yes, that was a lot of words and acronyms.

Here's what it means (simply) . . .

Info from the IRS tax return that the SSA used to figure the amount we needed to pay for our Medicare benefits (yes, this figures in too) was incorrect. We actually overpaid or rather were charged more since it's a monthly deduction. Why? because the earlier 2019 tax return was used and not the 2020 return, which was unavailable, somewhere in IRS never-never land. 

The cart came before the horse . . .

That's because the explanatory letters received last weekend from the SSA stated that two deposits would be received by mid-November and gave the exact amounts. The mystery happened as deposits were made, two weeks before the letters came.

Mystery solved—not only did we (finally) get that overdue 2020 tax refund with interest, but also unexpected SSA refunds. That said, we'll happily take the 💰.

The expression putting the cart before the horse is a figure of speech or idiom that suggests something is done contrary to the natural or normally effective sequence of events. It's based on the common knowledge that a horse usually pulls a cart; putting the cart before the horse is an analogy for doing things in the wrong order.

The Greeks called it histeron proteron. Hysteron proteron is a figure of speech in which what should be put last is actually put first. The phrase was first recorded in English in 1589 in George Puttenham's The arte of English Poesie.

And now we all know—the rest of this quite confusing story.