By Vonda VanTil
Social Security Public Affairs Specialist
With tax season well on its way, millions of taxpayers are busy gathering all the forms and documents needed to file federal, state and local tax returns. It is important to remember that some people who receive Social Security may have to pay taxes on a portion of their benefits. For them, a Social Security Benefit Statement (Form SSA-1099) is an important tax document.
The SSA-1099s for tax year 2007 were automatically mailed to beneficiaries by January 31, 2008. If you or someone you know who receives Social Security has not yet received a Form SSA-1099 for 2007, you can request a replacement online at www.socialsecurity.gov.
The SSA-1099 shows the total amount of benefits received in the previous year and is used to find out if any benefits are subject to tax. Basically, the federal tax laws about Social Security benefits state that:
o Up to 50 percent of Social Security benefits may be subject to income tax for individuals with a combined income between $25,000 and $34,000, or for couples with a combined income between $32,000 and $44,000; and
o Up to 85 percent of Social Security benefits may be subject to income tax for individuals with a combined income above $34,000, or for couples with a combined income above $44,000. (Note: “Combined income” means adjusted gross income, plus nontaxable interest, plus one-half of Social Security benefits.)
Vonda VanTil is the public affairs specialist for West Michigan. You can write her c/o Social Security Administration, 50 College SE, Grand Rapids MI 49503 or via email at vonda.vantil@ssa.gov.
