Vision Credit Education, Inc.

The Social Security Administration issued an alert that 2.7 million Americans received the wrong tax information. The error was on the 1099-SSA forms that went out in January.

The mistake was an overstatement of benefits received on the 1099-SSA. Some errors were due to Medicare Advantage or Part C or D prescription drug plans. Other forms mistakenly included 2006 benefits in with 2007 benefits.

The result is that the benefits were reported to be higher than what beneficiaries actually received. This could adversely affect tax returns.

Correct forms should be received by mid-February. You may call the Social Security Administration at (800) 772-1213 if you do not receive a corrected 1099-SSA form. Taxpayers that file with an incorrect form may need to file an amended return once they receive the corrected 1099-SSA form.