3 Social Security Moves to Make Before 2026

Social Security benefits are set to jump in a few weeks when the 2.8% 2026 cost-of-living adjustment (COLA) takes effect. You're probably anxiously awaiting the extra money, but you should take a few steps before then to ensure everything goes smoothly.

The three tasks below will only take a few minutes and are key to ensuring your benefits arrive on time and in the correct amount. They could also help you avoid sticker shock at tax time.

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1. Check your earnings record if you're still working

Your earnings record is where the Social Security Administration keeps track of how much money you've paid Social Security taxes on each year. (Note that this is often, but not always, the same as the amount you earned during the year.) Some high earners might see their earnings record list the taxable wage base, instead. You don't owe Social Security taxes on income over this limit, so you won't see it on your earnings record.

The Social Security Administration uses your earnings record to calculate your monthly benefit. If you continue to work after you've signed up and you're earning more now than in the past, you might see your benefits gradually rise over time.

Earnings records are typically accurate because the data comes directly from the IRS, but clerical errors happen. In the worst-case scenario, you'll find a year showing no income when you know you worked. That can permanently reduce your benefit.

You can view your earnings record through your my Social Security account. Take a few minutes to check the incomes listed here against your personal records. If you notice anything inaccurate, file a Request for Correction of Earnings Record form and submit it to the Social Security Administration, along with proof of your real income for that year.

2. Verify that your payment information is accurate

You can update your payment information in your my Social Security account, as well. It doesn't hurt to review this while checking your earnings record to ensure everything is correct. Incorrect information could lead to delayed benefits.

If you've recently moved, you may need to update your address. If you've changed banks, you may need to provide your new account and routing numbers. You can do this over the phone or at your local Social Security office, but the fastest way is to update your information through your my Social Security account.

Direct deposit is your best option if you have a bank account, but those without one can request a prepaid debit card. The Social Security Administration will deposit your funds into this account each month. Paper checks are no longer an option.

3. Decide if you want the Social Security Administration to withhold money for taxes in 2026

Social Security benefit taxes aren't going away anytime soon. If you're a single adult with a provisional income -- adjusted gross income (AGI) plus nontaxable interest from municipal bonds and half your annual Social Security benefit -- greater than $25,000, or a married couple with a provisional income exceeding $32,000, you'll owe the government some taxes on your Social Security benefits.

This doesn't always mean you'll get a tax bill. If you generally receive a refund, your check may be a little smaller this year. However, you may still need to adjust your budget slightly if you typically rely on your refund to cover a significant portion of your expenses around this time.

If you're worried about receiving a tax bill, you could budget some money for taxes on your own. Alternatively, you can request that the Social Security Administration withhold money from your checks for taxes. You can choose to have 7%, 10%, 12%, or 22% held back for taxes. Consider consulting with an accountant if you're not sure how much you should set aside.

You'll need to prepare for smaller monthly benefits if you choose this option, but you likely won't have to worry about a big shock at tax time. If the government winds up withholding too much, it'll return the excess with your tax refund.

If you have any questions about your Social Security benefits or how they might change in 2026, contact the Social Security Administration directly. You can complete this process by phone or in person at your local Social Security office.

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