About 40% of all people receiving Social Security benefits have to pay taxes on their benefits. You will have to pay taxes on your benefits if you file a federal tax return as an individual and your total income exceeds $25,000.
If you file a joint return, you will have to pay taxes if you and your spouse have a combined income in excess of $32,000. If you are married and filing separate returns, you will likely pay taxes on your benefits.
How to file your Social Security tax return
To withhold federal taxes, you can obtain a Form W-4V from the IRS by calling toll-free 1-800-829-3676.
The form can also be downloaded from www.irs.gov/pub/irs-pdf/fw4v.pdf. After the form is completed and signed, it should be returned to your local Social Security office by mail or in person.
For more information, read the Tax Guide for Seniors (IRS Publication No. 554) and Social Security and Railroad Equivalent Retirement Benefits (IRS Publication No. 915) at www.IRS.gov or call the IRS toll-free number, 1-800-829 -3676.
Online my social security account
You can easily sign up for a secure my Social Security online account. This allows you to access your Social Security Statement (Statement), verify your earnings, and get estimated benefits. You can also use your personal my Social Security account to request a card replacement with a Social Security Number (SSN). This service is available in most states and the District of Columbia.
If you are getting benefits, you can also:
- Get a benefit verification letter.
- Change your address and phone number.
- Request a replacement Medicare card.
- Get an SSA-1099 or SSA-1042S replacement for the tax season.
- Opt out of receiving agency notices by mail for those that are available online.
- Start or change your direct deposit.
You can create a personal my Social Security account if you are 18 years or older, have an SSN, a valid US postal address, and an email address. To create an account, go to www.ssa.gov/myaccount. For more information, see How to Create an Account Online (publication 05-10540).