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The IRS reminds taxpayers receiving Social Security benefits that they may have to pay federal income tax on a portion of those benefits.
Social Security benefits include: monthly retirement, survivor and disability benefits.
They don’t include: supplemental security income payments which are not taxable.
The portion of benefits that are taxable depends on the taxpayer’s income and filing status.
To find out if their benefits are taxable, taxpayers should:
Other income includes pensions, wages, interest, dividends and capital gains.
Fifty percent of a taxpayer’s benefits may be taxable if they are:
Up to 85% of a taxpayer’s benefits may be taxable if they are:
Contact our office for more information. We are happy to answer questions and help to determine if your Social Security benefits are taxable.
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