Tax Season — It’s About What You Know
Reading Time: 2 MinutesLast Updated: March 17, 2016
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). You should automatically receive it in the mail each January. It shows the total amount of benefits you received from Social Security in the previous year so you know how much Social Security income to report to the Internal Revenue Service on your tax return. The benefit statement is not available for people who receive Supplemental Security Income (SSI), as SSI payments are not taxable.
If you didn’t receive your Benefit Statement or misplaced it, you can get an instant replacement easily by using your secure my Social Security account. If you don’t already have an online account, you can create one in minutes. Go to the my Social Security page, and select “Sign In or Create an Account.” Once you are logged in, select the “Replacement Documents” tab to obtain your replacement 1099 or 1042S benefit statement. You can also use your personal my Social Security account to keep track of your earnings each year, manage your benefits, and more.
You can also obtain a replacement benefit statement by calling us at 1-800-772-1213 (TTY 1-800-325-0778), or contacting your local Social Security Office. If you live outside of the United States, please contact your nearest U.S. Embassy or Consulate.
Don’t wait. Be ready! Open your own personal my Social Security account today.
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About the Author
Jim Borland, Assistant Deputy Commissioner, Communications
Jim Borland, Assistant Deputy Commissioner, Communications
Comments
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tony
Why complain about the taxes? Take a stand and not pay taxes to the IRS. Why are you so scared of going to jail.
Dianne
The reason with ALL of us is that all we do is complain and do nothing!
Dianne
I meant to say the “problem” with ALL of us is that all we do is complain and do nothing!
vjones
Taxes are taken out of each paycheck depending on the amount of money you earn. That is not being taxed twice. Once when you receive a paycheck and then when you begin to receive SS benefits. Social Security Retirement and Disability are taxable when received. Supplemental Security Income (SSI) is not Taxable, since it does not come from taxes paid from income. SSI is a safety net for those less fortunate that they are unable to work due to a disability or old age.
The real problem comes from the Federal Government taking money from the “Trust Fund” money paid from taxes withheld from paychecks. That money was never paid back to the “Trust Fund”. If that money was given back to the Social Security Trust Fund with interest, there would be more that enough money to keep the Social Security benefits above water with our any future percentage cuts.
The Government Takes $ from USA people who work and does not return $ to the USA people. Yet they are more than happy to give money to other countries.
We give $ to other countries and borrow money from China to support our giving. Does that sound like good business practices? JUST AN OPINION.
ML
Wow SSI is not supposed to be taxed? I need to look into this not only do I have them take out some tax before I get it, but they tax 85% of my SSI when added to my husbands salary.
tony
Why complain when you can do something about it. The IRS told me I to call or mail them a reason why I didn’t pay Social Security and Medicare tax on the money I earned. I threw away the letter and never responded. Now I don’t even bother to file my taxes. I hardly make any money to live off of. If they put me in jail, it will cost the government thousands of dollars to prosecute me and thousands of dollars to house me in jail. The IRS doesn’t even bother with me because it would cost them more money to audit me than what I owe them.
tony
Social Security was spending more money trying to recover an overpayment less than $1000. An audit was done and they suggested to stopped going after those people.
Caryl
Don’t be so sure! It would be easier to go after the little guy than a person who can hire accountants and lawyers.
AJ
SSI is Supplemental Security Income, a needs based poverty level program and is not taxable. If you have to pay taxes on your benefits it is not SSI, it is Social Security benefits.
R.Whit
It’s a difference between SS being taxed and a portion of it being taxed. A person with a pension supplemeted with SS that totals more than 40 gees, and where federal and taxes are witheld can have taxes simply increase the witholdings.
don
that is why we need change//////
Poorman
I wish I had been poor and received help from the tax payers instead of helping the poor with my taxes.
Beth
That may be the dumbest comment any time, anywhere!
LM
Agree!
Geri
Hehe… man mÃ¥ altid komme med ønsker, kan dog bare ikke altid opfylde dem. Ved ikke hvor meget jeg (eller tidligt) jeg nÃ¥r at u#8;j2le&18217; i Ã¥r, men har da et indlæg fra sidste Ã¥r at henvise til : og dette det er dog mest med billeder fra mine forældre:
Patsy Y.
That is an ignorant statement. If you were in that situation, you’d quickly change your mind.
Florence L.
We could get out and threat to riot!! Or we could get out to vote. One of them has the thoughtful answer for us.
df
taxes, would not be a problem not be a problem persay but when you get “cost of living increase”
the medicine and therapy go up. So you are not, anything.
Anne H.
The lack of COLA is especially distressing. Most of us as we get older face medical bills that increase every year. No COLA means we face them with the same income as last year. Don’t do that to us! I agree that the government is not really thinking of our welfare.
MJG
Someone has to get the attention of Congress to do something about this unfair taxation of SS benefits up to a total of 85% of middle class income. There has been no inflationary adjustment to these amounts taxed and they would be much higher right now if they had been adjusted for inflation since they taxes were imposed. Another crime is the money they collect from these taxes don’t go to help the SS budget at all so Congress always wants more cuts in the programs.
Carol R.
We have the attention of Congress. They don’t care.