Continuing to pay Social Security taxes
The SSA-1099 form or your benefit statement can be used to
Determine whether your benefits are taxable.
It is generally mailed every year to people receiving Social Security benefits in January.
It shows how much Social Security income you should report to the IRS on your tax
Return based on the benefits you received from Social Security in the previous year.
Social Security benefits can be taxed
There are some households that have to pay federal income taxes on their Social Security benefits.
In most cases, this occurs if you have other substantial earnings in addition to your
Benefits, such as wages, self-employment income, interest, dividends, or other taxable income.
In contrast, Supplemental Security Income (SSI) is never taxed.
Swipe up To Read More Stories