Social Security’s Acting Commissioner, Carolyn W. Colvin, likes to tell this amusing story. A colleague’s teenage daughter came home bursting with excitement after receiving her first paycheck. But she had one question about her earnings statement.
Did you know that your Social Security benefits may be taxable?
This includes your monthly retirement, survivor, and disability benefits. About one-third of people receiving Social Security benefits must pay taxes on some of these benefits, depending on the amount of their taxable income. This may happen if you have other significant income in addition to your Social Security benefits.
To find out whether you must pay taxes on your benefits, you will need your Social Security Benefit Statement (Form SSA-1099/1042S). Continue reading →
Your future belongs to you. Although retirement may seem far off, life moves quickly, and it’s important to take the right steps now to ensure your financial wellbeing down the road.
To help more Americans prepare for long-term financial security, Social Security and the Department of the Treasury are joining forces to launch Envision a Secure Financial Future. Through this new initiative, you can take advantage of a variety of tools and programs to help prepare your finances for years to come. Continue reading →
At some point in his or her life, almost every American will need, or will at least be eligible for, Social Security benefits. Our website has quickly become our newest hub for many of our customers to conduct their business with us.
Already more than half of our customers who apply for retirement or disability benefits, or who submit a Medicare claim, do so online.