Do I have to pay income taxes on the benefits I receive?
You will have to pay federal taxes on your SocialSecurity benefits if you file a federaltax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to paytaxes if you and your spouse have a total income of more than $32,000.
Use the Internal Revenue Service (IRS) Notice 703 shown on the back of the SocialSecurity Benefit Statement, SSA Form 1099, to determine if any of your benefits may be taxable.
SocialSecurity has no authority to withhold state or local taxes from your benefit. Many states and local authorities do not taxSocialSecurity benefits. However, you should contact your state or local taxing authority for more information.