Aligning SSA with IRS rules could grant half of caregiving grandparents extra benefits, per a CRR study, potentially more than $8,000 annually.
For the 2 million grandparents in the United States tasked with the full-time job of raising their grandchildren, a potential change in Social Security regulations could offer substantial financial relief in an additional sum of $8,100, according to a study published Tuesday.
'Since few beneficiary households have grandchildren who are already receiving Social Security benefits through a parent, close to half of grandparent caregiver households would qualify for child benefits if the eligibility criteria were aligned with the IRS rules,' the study's authors, Siyan Liu and Laura Quinby said in the report.The Financial ImplicationsThe implications are steep if such an alignment were to occur.
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