Ask Larry

Taxation Of Benefits

Will The Back Pay I Just Received Be Taxed For 2021?

I just received retroactive Social Security benefits as of Jan 2023
Will this be taxed for 2021?

Hi. No. Social Security benefits are taxable for the year in which they are paid, not the year for which the benefits were payable. So, any benefits you receive in 2023 would be reported on your 2023 tax return, regardless of what year the benefits were actually due.

Best, Jerry

Tuesday, January 10, 2023 - 14:43

Do I Have To Claim My Survivor Benefits On My Income Tax?

I get survivors benefits from my spouse, do I have to claim that on my income tax if get a retirement in the amount of $20,400 a year?

Hi. You need to claim your Social Security income on your tax returns, but whether or not you are required to pay income taxes on your benefits depends on your adjusted gross income. For more information, refer to the following Social Security webpage:

Best, Jerry

Wednesday, December 14, 2022 - 19:37

Will I Have To Pay Tax On The Social Security Benefits Paid In 2022 If I Repay Them In 2023?

If I withdrawal my social security application in December and they don’t process for 60 days, will I still have to pay tax on the 2022 income received if it’s not paid back till 2023?

Hi. I'm sorry, but I'm not able to answer your question. Although I am an expert regarding Social Security benefits, I have no expertise in income tax regulations.

Best, Jerry

Thursday, November 17, 2022 - 11:05

Is Anything In The Works To Increase The Income Limits That Determine How Much Of A Person's Benefits Are Taxable?

Larry since 1984 the income limits before seniors are taxed up to 85% of their social security income hasn’t changed, how are to survive with having to use are savings to pay taxes! Is there anything in the works to increase these limits?

Friday, September 23, 2022 - 12:46

Will I Pay Income Tax In The Philippines From My U.S. Pension?

I am a US citizen born in the Philippines. If I wanted to be a dual citizen, will I pay income tax in the Philippines from my pension in USA?

Hi. My expertise is limited to Social Security benefits, not tax laws. All I can tell you is that since you are a U.S. citizen you can still collect your U.S. Social Security benefits even if you move to the Philippines.

Best, Jerry

Wednesday, August 24, 2022 - 07:57

Will I Be Able To Set Up Income Tax Withholding When I Apply?

Hi Larry,
Both my wife and I are currently receiving Social Security benefits.
My wife retired at age 66 (born March, 1954) and is receiving her full PIA, $1032.
I was born in October 1952, so I have been receiving spousal benefits based on a restricted application.
When I reach the age of 70, I will start drawing benefits ($3870) on my own record.
Neither of us are having federal income taxes withheld from our benefits at this time.

Monday, April 4, 2022 - 14:27

What Can I Do About My Benefits Being Taxed?

I just filed for my husband to receive his Social Security, he will be 62 next month. He has a nice pension with Florida Retirement, 32 years LEO. I am retired FERS, three prong retirement, retirement, FERS supplement, and TSP. FERS supplement will go away upon my turning 62 and I am "supposed" to begin collecting Social Security to replace it. Well my thoughts on taxes took me to the Internet today and I discovered that if a married couple earns/receives more than $44,000 annually their Social Security is taxed at 85%.

Tuesday, January 25, 2022 - 08:06
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