You would think that when you finally retire and start collecting Social Security that you no longer have to pay income tax. But this isn't always true. Watch this video to find out more about income taxes for those on Social Security.
Wisconsin. (municipal bond interest earnings tax exclusion for social security recipients)(Around the Nation)Hattori, April
What is Form 8919: Uncollected Social Security and Medicare Tax on WagesWhen Does a Senior Citizen on Social Security Stop Filing Taxes?Who Is Exempt from Paying Social Security Tax?Video: Social Security Tax - Who Is Exempt?Video: Do Social Security Income Recipients Pay Income Taxes?
The earned income credit is often confusing to many taxpayers. There are many qualification requirements, and the credit changes depending on the number of eligible children a taxpayer has. Recipients of social security benefits may be eligible to receiv
If you have data security concerns, visit: https://www.efile.com/tax-return-identity-theft-and-refund-fraud/ If you have already filed a return and are trying to change or correct it, visit https://www.efile.com/tax-amendment/ Contact us with further questions or assistance at https://...
Sometimes parents don't record their dependents' Social Security numbers correctly, which can also lead to a red flag going up at the IRS. Don't file your return before you have all your tax forms Sometimes taxpayers are eager to file quickly because they want their tax refund in hand, or...
In one version of the scam, criminals are pretending to be debt collection agency officials acting on behalf of the IRS. They’ll call taxpayers who’ve had fraudulent tax refunds deposited into their bank accounts, claim the refund was deposited in error, and threaten recipients with criminal ...
The latest refund scam is an email or text about your tax refund or tax refund e-statement. In both cases, warns the Federal Trade Commission (FTC), the messages are efforts to steal your identity and money. As in previous incarnations, these latest fake IRS messages encourage recipients to...
The COLA was 8.7% for 2023 and is 3.2% for 2024. This means that Social Security recipients will see an increase in their monthly Social Security payments in 2024. Individuals will receive an average of $1,907 for their SSA benefits, and couples will receive, on average, $3,033 in 2024...
A Targeted Minimum Benefit Plan: A New Proposal to Reduce Poverty among Older Social Security Recipients Other aspects include an income-tested benefit that would bring beneficiaries to 100 percent of the poverty threshold; application by filing of a 1040 income tax return; and setting of benefit ...