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Social Security Q&A

Reporting Social Security on Income Tax Return, Benefits as Military Retiree in SSA Q&A

SSA-1099 forms reporting benefit payments for 2013 will be mailed by January 31

Jan. 9, 2014 – Many are surprised they have to report their Social Security benefit on their income tax form, but it is explained by Oscar Garcia, Public Affairs Specialist, with the Social Security Administration in this week’s Social Security Q&A. He also has an answer for a military retiree who wonders if he can also get a Social Security benefit.

Question:

My parents are still able to manage their own finances, including Social Security.  However, I am helping them with their income tax return, and I just found out they need to report their Social Security benefits.  I do not have their SSA-1099 forms as of yet. How can I request a copy of these forms?

Answer:

More than likely all you have to do is wait for the forms to arrive by mail later this month. Each January we mail a Social Security Benefit Statement (Form SSA-1099) showing the amount of benefits received in the previous year. The SSA-1099/1042S for Tax Year 2013 will be mailed by January 31, 2014.

You can request a replacement SSA-1099/1042S for Tax Year 2013 on or after February 1, 2014. You can use this Benefit Statement when you complete their federal income tax return to find out if their benefits are subject to tax.

 

Related Archived Stories

 
 

Are Seniors on Medicare Affected by Obamacare? Answer by Social Security May Be Misleading

This week’s Social Security Q&A gives good synopsis of Medicare health coverage but not of impact on senior citizens by Affordable Care Act

Jan. 6, 2014


Read more Social Security News

also check Medicare and Senior Politics

 

If they do have to pay taxes on their Social Security benefits, they can make quarterly estimated tax payments to the IRS or choose to have federal taxes withheld from their monthly benefits. Anyone can ask us to withhold federal taxes from their Social Security when they apply for benefits. Anyone who is already receiving benefits can change or stop this withholding by completing a form W-4V from the Internal Revenue Service (IRS).

The form can be downloaded from the IRS website at http://www.irs.gov/pub/irs-pdf/fw4v.pd. Your can also call the IRS toll-free number 1-800-829-3676 and ask for Form W-4V, Voluntary Withholding Request.

When you complete the form, you will need to select the percentage of the monthly benefit amount they want withheld. You can have 7%, 10%, 15% or 25% of the monthly benefit withheld for taxes. Here is something else that you may find helpful as you prepare to file your parents’ tax return. 

The IRS has short and informative YouTube videos on a number of tax-related topics in English, Spanish and American Sign Language (ASL). One of these videos is “Do I Have to File a Tax Return?”  The video explains the requirements for filing a tax return, including income limits and age. These videos can be viewed at http://www.youtube.com/irsvideos.

Question:

Will my military retirement affect my Social Security benefits?

Answer:

No. You can get both Social Security benefits and military retirement. There is no offset of Social Security benefits because of your military retirement. You can find more information in the publication “Military Service and Social Security” at www.socialsecurity.gov/pubs, or call us at 1-800-772-1213. This publication provides an explanation of the extra earnings that Social Security can apply to your work history based on your military service.

Oscar Garcia is a Public Affairs Specialist with the Social Security Administration. You can direct your questions to him at: SSA, 411 Richland Hills Drive, San Antonio, Texas, 78245. You can also email him at Oscar.h.garcia@ssa.gov.

 

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VW Beetle (2012–2015)

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Audi A3 (2010-2015)

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