Do I have to pay income taxes on the benefits I receive?

You will have to pay Federal taxes on your Social Security benefits if you file a Federal tax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to pay taxes if you and your spouse have a total income of more than $32,000.

Use the Internal Revenue Service (IRS) Notice 703 shown on the back of the Social Security Benefit Statement, SSA Form 1099, to determine if any of your benefits may be taxable.

Social Security has no authority to withhold state or local taxes from your benefit. Many states and local authorities do not tax Social Security benefits. However, you should contact your state or local taxing authority for more information.

 

More Information


Internal Revenue Service
Social Security and Equivalent Railroad Retirement Benefits
Withholding income tax from your Social Security benefits

 

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  • Topic #: 34011-2117
  • Date Created: 12/5/2013
  • Last Modified Since: 3/12/2014
  • Viewed: 126229