Have you received more money than you’re entitled to from a federal agency? If so, and you collect Social Security benefits, Uncle Sam hasn’t overlooked the overpayment.
Starting this month, the Department of the Treasury will send letters to Social Security beneficiaries who owe money to the government. If you receive this letter of warning, you have two months to make arrangements to pay the debt to the agency you owe.
Otherwise, in May the Treasury Department will start deducting a maximum of 15% from your monthly benefit payment until you’re all paid up. (This affects only those beneficiaries who receive $750 a month or more.) For information, visit the Social Security Web site at http://www.ssa.gov/enews/debtpayment.htm.
