Does IRS Consider Social Security As Income? Understanding Taxability

Does Irs Consider Social Security As Income? Yes, the IRS does consider Social Security benefits as income, and understanding the rules surrounding their taxability is crucial for effective financial planning and strategic partnerships to increase revenue. Income-partners.net offers the insights and resources needed to navigate these complexities and discover partnership opportunities for income growth. Tax obligations, taxable income thresholds, and financial strategy are the key factors.

1. What Qualifies As Social Security Income According To The IRS?

Yes, the IRS includes monthly retirement, survivor, and disability benefits under Social Security benefits as income. However, Supplemental Security Income (SSI) payments are exempt from federal income tax. To clarify, Social Security income encompasses regular payments received after retirement, benefits paid to survivors of deceased workers, and benefits provided to individuals with disabilities. This definition is crucial because it determines which types of payments are subject to the IRS’s income tax regulations. Understanding this distinction is vital for accurate tax planning and compliance.

The IRS classifies Social Security benefits as income based on specific criteria, primarily focusing on monthly retirement, survivor, and disability payments. These benefits are considered part of your gross income and may be subject to federal income tax depending on your overall earnings. Let’s break down each component:

• Retirement Benefits: These are the monthly payments you receive upon retiring after having worked and contributed to Social Security.

• Survivor Benefits: Paid to surviving spouses, children, and sometimes other family members of deceased workers who were insured under Social Security.

• Disability Benefits: These benefits are for those who can no longer work due to a significant disability.

It’s important to note that Supplemental Security Income (SSI) is not included in this classification. SSI is a needs-based program for individuals with limited income and resources, and these payments are not taxable.

The determination of whether these benefits are taxable depends on your total income, which includes other sources such as wages, pensions, interest, dividends, and capital gains. The IRS provides specific thresholds that trigger taxation, which we will explore in detail below.

2. How Does The IRS Determine If Social Security Benefits Are Taxable?

The IRS determines the taxability of your Social Security benefits by evaluating your combined income, which includes half of your Social Security benefits plus all other income sources, against established thresholds based on your filing status. In essence, the IRS assesses your overall financial picture to decide if your Social Security benefits are subject to income tax. This approach ensures that only those with a certain level of total income are required to pay taxes on their benefits.

To determine if your Social Security benefits are taxable, the IRS uses a formula to calculate your “combined income.” This involves taking half of the Social Security benefits you received during the year and adding it to your other income, including:

• Wages
• Pensions
• Interest
• Dividends
• Capital Gains

Once you have your combined income, you compare it to the thresholds set by the IRS based on your filing status:

Filing Status	Threshold 1 (Up to 50% Taxable)	Threshold 2 (Up to 85% Taxable)
Single, Head of Household, Qualifying Widow(er)	$25,000 – $34,000	Over $34,000
Married Filing Jointly	$32,000 – $44,000	Over $44,000
Married Filing Separately (Living Apart)	$25,000 – $34,000	Over $34,000
Married Filing Separately (Living Together)	Any Amount	Any Amount

Here’s how it works:

• If your combined income is below the lower threshold, none of your Social Security benefits will be taxable.

• If your combined income falls between the two thresholds, up to 50% of your Social Security benefits may be taxable.

• If your combined income exceeds the higher threshold, up to 85% of your Social Security benefits may be taxable.

For example, if you are single and your combined income is $30,000, up to 50% of your Social Security benefits could be subject to income tax. If your combined income is $40,000, up to 85% could be taxable.

This structured approach ensures that the taxability of Social Security benefits is fairly determined based on individual financial circumstances.

3. What Are The Income Thresholds For Taxing Social Security Benefits?

The income thresholds for taxing Social Security benefits depend on your filing status, with single filers having a lower threshold ($25,000) compared to married couples filing jointly ($32,000), impacting the amount of benefits subject to tax. Essentially, these thresholds determine at what income level you start paying taxes on your Social Security benefits. These thresholds are pivotal in determining the financial impact of Social Security benefits on your overall tax liability.

The IRS sets specific income thresholds to determine how much of your Social Security benefits may be taxable. These thresholds vary depending on your filing status:

• Single, Head of Household, or Qualifying Widow(er):

  • If your combined income is between $25,000 and $34,000, up to 50% of your benefits may be taxable.
  • If your combined income is more than $34,000, up to 85% of your benefits may be taxable.

• Married Filing Jointly:

  • If your combined income is between $32,000 and $44,000, up to 50% of your benefits may be taxable.
  • If your combined income is more than $44,000, up to 85% of your benefits may be taxable.

• Married Filing Separately:

  • If you lived apart from your spouse for the entire year and your combined income is between $25,000 and $34,000, up to 50% of your benefits may be taxable. If it’s over $34,000, up to 85% may be taxable.
  • If you lived with your spouse at any time during the year, a significant portion of your benefits may be taxable, regardless of your income.

Example Scenario:

Consider a single individual with $30,000 in combined income, including half of their Social Security benefits. Since this falls between the $25,000 and $34,000 threshold, up to 50% of their Social Security benefits may be subject to income tax.

4. How Much Of My Social Security Benefits Could Be Taxed?

Depending on your income level and filing status, either 50% or 85% of your Social Security benefits could be taxed. Therefore, the percentage of your benefits subject to taxation varies with your overall income, where higher incomes face a higher percentage of taxable benefits. Understanding these percentages allows for more precise tax planning and financial forecasting.

The amount of your Social Security benefits that could be taxed depends on your combined income and filing status, as detailed by the IRS. Here’s a breakdown:

• Up to 50% of your benefits may be taxable if:

  • You are filing as Single, Head of Household, or Qualifying Widow(er) with a combined income between $25,000 and $34,000.
  • You are Married Filing Jointly with a combined income between $32,000 and $44,000.
  • You are Married Filing Separately and lived apart from your spouse for the entire year with a combined income between $25,000 and $34,000.

• Up to 85% of your benefits may be taxable if:

  • You are filing as Single, Head of Household, or Qualifying Widow(er) with a combined income over $34,000.
  • You are Married Filing Jointly with a combined income over $44,000.
  • You are Married Filing Separately and lived apart from your spouse for the entire year with a combined income over $34,000.
  • You are Married Filing Separately and lived with your spouse at any time during the year.

Real-World Example:

Imagine a married couple filing jointly with a combined income of $50,000, including half of their Social Security benefits. Because their income exceeds the $44,000 threshold, up to 85% of their Social Security benefits could be subject to federal income tax.

5. Are Social Security Benefits Taxed At The Federal Or State Level?

Social Security benefits are primarily taxed at the federal level, although some states also impose taxes on these benefits, depending on their specific tax laws. In summary, while the federal government uniformly taxes Social Security, the decision to tax these benefits varies significantly by state. This dual-level taxation impacts retirees differently based on their state of residence, necessitating a comprehensive understanding of both federal and state tax laws.

The taxation of Social Security benefits occurs at both the federal and state levels, but it’s essential to understand how each jurisdiction handles it.

Federal Level:

The federal government taxes Social Security benefits based on the income thresholds and percentages we discussed earlier. The IRS uses your combined income to determine whether 50% or 85% of your benefits are taxable.

State Level:

While the federal government taxes Social Security benefits, not all states do. As of the latest information, the following states do not tax Social Security benefits:

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Mississippi
• Missouri
• Montana
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Virginia
• Washington
• Wisconsin
• Wyoming

However, the following states do tax Social Security benefits, though often with exemptions based on income or other criteria:

• Connecticut
• Kansas
• Minnesota
• Nebraska
• Rhode Island
• Vermont
• West Virginia

Example:

If you live in Florida, your Social Security benefits are not taxed at the state level, but they may be taxed at the federal level depending on your combined income. However, if you live in Vermont, your benefits could be taxed at both the federal and state levels, although Vermont may offer certain exemptions based on your income.

6. What Forms Do I Need To Report Social Security Income To The IRS?

To report Social Security income to the IRS, you’ll need Form SSA-1099, which details the total benefits you received during the year, and potentially Schedule 1 (Form 1040) to report taxable amounts. Thus, using the correct forms ensures accurate reporting and compliance with tax regulations. Form SSA-1099 provides the necessary details about your benefits, while Schedule 1 helps you calculate and report any taxable portion on your tax return.

To accurately report your Social Security income to the IRS, you’ll primarily need two forms:

• Form SSA-1099 (Social Security Benefit Statement): This form is sent to you by the Social Security Administration (SSA) in January of each year. It details the total amount of Social Security benefits you received during the previous year. The form includes information such as:

  • The total amount of benefits you received.
  • Any amounts you voluntarily repaid to the SSA.
  • The amount of any Medicare premiums withheld from your benefits.

• Schedule 1 (Form 1040), Additional Income and Adjustments to Income: If a portion of your Social Security benefits is taxable, you will use Schedule 1 to report it on your federal income tax return (Form 1040). Schedule 1 helps you calculate the taxable amount based on your combined income and filing status.

How to Use These Forms:

1. Receive Form SSA-1099: Wait to receive Form SSA-1099 from the Social Security Administration. This form is crucial for accurately reporting your benefits.
2. Calculate Combined Income: Determine your combined income by adding half of your Social Security benefits to your other income (wages, pensions, interest, dividends, capital gains).
3. Determine Taxable Amount: Use the IRS worksheets or tax software to determine how much of your Social Security benefits are taxable based on your filing status and combined income. The IRS Publication 915, Social Security and Equivalent Railroad Retirement Benefits, provides detailed guidance and worksheets.
4. Report on Schedule 1 (Form 1040): Enter the taxable portion of your Social Security benefits on Schedule 1 (Form 1040), line 6. This amount will then be transferred to your Form 1040.

Example:

Let’s say you received $20,000 in Social Security benefits, as reported on Form SSA-1099. Your combined income is $35,000, and you are filing as single. Using the IRS worksheets, you determine that $8,000 of your Social Security benefits is taxable. You would report this $8,000 on Schedule 1 (Form 1040), line 6.

7. What Deductions And Credits Can Reduce The Tax On My Social Security Benefits?

While you can’t directly deduct Social Security benefits, various deductions and credits, such as the standard deduction, itemized deductions (if applicable), and tax credits like the Credit for the Elderly or the Disabled, can lower your overall taxable income and indirectly reduce the tax on your benefits. Therefore, utilizing applicable deductions and credits is essential for minimizing your tax liability. By strategically reducing your taxable income, you can lower the portion of your Social Security benefits that are subject to tax.

Although you can’t directly deduct your Social Security benefits from your gross income, there are several deductions and credits that can reduce your overall taxable income, indirectly lessening the tax impact on your benefits. Here are some key strategies:

• Standard Deduction:

  • The standard deduction is a fixed amount that you can deduct from your adjusted gross income (AGI) to reduce your taxable income. The amount varies depending on your filing status and is adjusted annually for inflation. For example, in 2023, the standard deduction for single filers was $13,850, and for married couples filing jointly, it was $27,700.
  • How it helps: By taking the standard deduction, you reduce your overall taxable income, which can lower the amount of your Social Security benefits that are subject to tax.

• Itemized Deductions:

  • If your itemized deductions exceed the standard deduction, you can choose to itemize. Common itemized deductions include:
    • Medical Expenses: You can deduct medical expenses that exceed 7.5% of your AGI.
    • State and Local Taxes (SALT): You can deduct up to $10,000 for state and local taxes, including property taxes and either state income taxes or sales taxes.
    • Home Mortgage Interest: You can deduct interest paid on a home mortgage up to certain limits.
    • Charitable Contributions: You can deduct contributions to qualified charitable organizations.
  • How it helps: Like the standard deduction, itemizing reduces your taxable income, which can decrease the amount of your Social Security benefits that are taxable.

• Tax Credits:

  • Tax credits directly reduce the amount of tax you owe, providing a dollar-for-dollar reduction. Some relevant tax credits include:
    • Credit for the Elderly or the Disabled: This credit is available to individuals who are age 65 or older or are permanently and totally disabled. The amount of the credit depends on your filing status and income.
    • Saver’s Credit: This credit is for low-to-moderate-income taxpayers who contribute to a retirement account, such as a 401(k) or IRA.
    • Child and Dependent Care Credit: If you pay someone to care for your child or another qualifying dependent so you can work or look for work, you may be eligible for this credit.
  • How it helps: Tax credits directly lower your tax liability, making them a powerful tool for reducing the overall tax burden on your Social Security benefits.

• Retirement Contributions:

  • Contributing to retirement accounts, such as traditional IRAs or 401(k)s, can reduce your taxable income for the year. Contributions to traditional (non-Roth) retirement accounts are typically tax-deductible.
  • How it helps: By lowering your taxable income, you can potentially reduce the portion of your Social Security benefits that are subject to tax.

• Health Savings Account (HSA) Contributions:

  • If you have a high-deductible health plan, you can contribute to an HSA. Contributions to an HSA are tax-deductible, and the funds can be used for qualified medical expenses.
  • How it helps: Deductible HSA contributions lower your taxable income, which can help reduce the amount of your Social Security benefits that are taxed.

Example Scenario:

Suppose you are single and have a combined income that puts you near the threshold where 50% of your Social Security benefits could be taxable. By contributing to a traditional IRA, you lower your taxable income below that threshold. This strategy could reduce the amount of your Social Security benefits subject to tax, resulting in a lower overall tax bill.

8. Can I Reduce My Taxable Social Security Benefits Through Tax Planning?

Yes, you can reduce taxable Social Security benefits through strategic tax planning, such as managing the timing of income, utilizing tax-advantaged accounts, and optimizing deductions to lower your overall taxable income. Therefore, proactive tax planning can significantly minimize the tax impact on your Social Security benefits. By implementing these strategies, you can optimize your financial situation to reduce your tax liability.

Yes, you can absolutely reduce your taxable Social Security benefits through careful and proactive tax planning. Here are several strategies to consider:

• Manage the Timing of Income:

  • Strategy: Control when you realize income to avoid exceeding the thresholds that trigger higher taxation of your Social Security benefits.
  • How it works: If you have some flexibility over when you receive income, try to shift it to years when your overall income is lower. For example, if you are close to the threshold where 85% of your benefits become taxable, consider deferring income from investments or part-time work to the following year.
  • Example: If you plan to sell stock and realize a large capital gain, consider spreading the sales over multiple years to avoid a significant spike in your income in a single year.

• Utilize Tax-Advantaged Accounts:

  • Strategy: Contribute to tax-deferred retirement accounts to lower your taxable income.
  • How it works: Contributions to traditional 401(k)s, traditional IRAs, and similar accounts are typically tax-deductible. This means that the amount you contribute reduces your taxable income for the year, potentially lowering the amount of your Social Security benefits that are subject to tax.
  • Example: If you are 60 years old and still working, maximize your contributions to your 401(k) to reduce your taxable income.

• Consider Roth Conversions Strategically:

  • Strategy: Convert traditional IRA or 401(k) assets to a Roth IRA in years when your income is lower.
  • How it works: While you will pay taxes on the converted amount in the year of the conversion, future withdrawals from the Roth IRA will be tax-free. This can be particularly beneficial if you anticipate being in a higher tax bracket in the future.
  • Example: If you have a year with unusually low income (perhaps due to temporary unemployment or reduced work hours), consider converting some of your traditional IRA to a Roth IRA.

• Optimize Deductions:

  • Strategy: Maximize your deductions to reduce your taxable income.
  • How it works: Take advantage of all available deductions, such as the standard deduction, itemized deductions (if they exceed the standard deduction), and other deductions like student loan interest, health savings account (HSA) contributions, and self-employment tax.
  • Example: If you have significant medical expenses, track them carefully and deduct the amount exceeding 7.5% of your adjusted gross income.

• Charitable Giving:

  • Strategy: Use charitable contributions to reduce your taxable income.
  • How it works: Donations to qualified charitable organizations are tax-deductible. Consider donating appreciated assets (like stocks) rather than cash to potentially avoid capital gains taxes as well.
  • Example: Donate appreciated stock to a charity instead of selling it and donating the cash. This allows you to avoid paying capital gains tax on the appreciation.

• Health Savings Account (HSA) Contributions:

  • Strategy: If you are eligible, contribute to an HSA to reduce your taxable income and save for future medical expenses.
  • How it works: Contributions to an HSA are tax-deductible, the funds grow tax-free, and withdrawals for qualified medical expenses are also tax-free.
  • Example: Contribute the maximum allowable amount to your HSA each year to lower your taxable income and build a tax-advantaged fund for healthcare costs.

• Consult with a Tax Professional:

  • Strategy: Seek professional advice to create a personalized tax plan.
  • How it works: A qualified tax advisor can help you navigate the complexities of tax law and develop strategies tailored to your specific financial situation. They can help you identify potential deductions and credits and ensure that you are making the most tax-efficient decisions.
  • Example: Meet with a tax advisor to review your income, deductions, and potential tax liabilities to create a comprehensive tax plan.

9. How Do State Taxes Affect Social Security Benefits?

While the federal government taxes Social Security benefits, the impact of state taxes varies, with some states fully exempting these benefits from taxation, while others tax them to varying degrees, depending on income and other criteria. Essentially, your state of residence can significantly influence the overall tax burden on your Social Security income. Awareness of your state’s specific tax laws is crucial for accurate financial planning.

The impact of state taxes on Social Security benefits varies significantly depending on where you live. Here’s a detailed overview:

• States That Do Not Tax Social Security Benefits:

  • Most states do not tax Social Security benefits. As of 2024, the following states offer full exemptions:
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • Missouri
    • Montana
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Virginia
    • Washington
    • Wisconsin
    • Wyoming

• States That Tax Social Security Benefits (With Possible Exemptions):

  • A handful of states tax Social Security benefits, but often with income-based exemptions or other criteria:
    • Connecticut: Taxes benefits, but offers an exemption for those with adjusted gross income (AGI) below certain thresholds.
    • Kansas: Taxes benefits, but provides an exemption for those with AGI below specific levels.
    • Minnesota: Taxes benefits, with some deductions available based on income.
    • Nebraska: Taxes benefits, but allows a deduction based on income levels.
    • Rhode Island: Taxes benefits, but offers an exemption for those meeting certain income requirements.
    • Vermont: Taxes benefits, but provides credits or deductions based on income.
    • West Virginia: Taxes benefits, but offers a significant exemption for eligible taxpayers.

• How State Taxes Work:

  • Exemptions: Many states that tax Social Security benefits offer exemptions based on income, age, or other factors. These exemptions can significantly reduce or eliminate state taxes on your benefits.
  • Income Thresholds: States often set income thresholds above which Social Security benefits become taxable. These thresholds vary widely.
  • Tax Rates: The tax rates applied to Social Security benefits also vary by state. Some states use a flat tax rate, while others use progressive tax rates based on income.

• Examples:

  • Florida Resident: If you live in Florida, your Social Security benefits are not subject to state income tax.
  • Minnesota Resident: If you live in Minnesota, your Social Security benefits may be subject to state income tax, but you may be eligible for deductions based on your income.

• Planning Implications:

  • Retirement Location: The state tax implications on Social Security benefits can be a significant factor when deciding where to retire. States with no income tax or no tax on Social Security benefits can be attractive options.
  • Tax Planning: Understanding your state’s tax laws is essential for effective tax planning. Be sure to consult with a tax professional to optimize your tax strategy based on your state of residence.

10. What Happens If I Don’t Report My Social Security Income Correctly?

If you don’t report your Social Security income correctly, you may face penalties, interest charges, and potentially an audit from the IRS. Therefore, accurate reporting is critical to avoid legal and financial repercussions. Failing to report income accurately can lead to significant financial and legal issues.

Failing to report your Social Security income correctly can lead to several adverse consequences:

• Penalties:

  • Failure-to-File Penalty: If you don’t file your tax return by the due date (including extensions), you may be charged a penalty of 5% of the unpaid taxes for each month or part of a month that your return is late, up to a maximum of 25% of your unpaid taxes.
  • Failure-to-Pay Penalty: If you don’t pay your taxes by the due date, you may be charged a penalty of 0.5% of the unpaid taxes for each month or part of a month that the taxes remain unpaid, up to a maximum of 25% of your unpaid taxes.
  • Accuracy-Related Penalty: If you underreport your income or claim deductions or credits you’re not entitled to, the IRS may assess an accuracy-related penalty. This penalty is typically 20% of the underpayment.

• Interest Charges:

  • The IRS charges interest on underpayments of tax from the due date of the return until the date the tax is paid. The interest rate is determined quarterly and can fluctuate.

• IRS Audit:

  • If the IRS suspects that you have not reported your income correctly, they may conduct an audit of your tax return. During an audit, the IRS will request documentation to support the income, deductions, and credits you claimed on your return.
  • Consequences of an Audit: If the audit reveals that you underreported your income, the IRS may assess additional taxes, penalties, and interest. In severe cases, the IRS may pursue criminal charges for tax evasion.

• Notice of Deficiency:

  • If the IRS determines that you owe additional taxes, they will send you a notice of deficiency (also known as a 90-day letter). This notice gives you 90 days to either pay the additional taxes or file a petition with the Tax Court to challenge the IRS’s determination.

• Statute of Limitations:

  • The IRS generally has three years from the date you filed your return to assess additional taxes. However, if you underreport your income by more than 25%, the IRS has six years to assess additional taxes. In cases of fraud, there is no statute of limitations, and the IRS can assess taxes at any time.

• Criminal Charges:

  • In severe cases of tax evasion or fraud, the IRS may pursue criminal charges. Penalties for tax evasion can include fines and imprisonment.

• Damage to Reputation:

  • In addition to the financial penalties and legal consequences, failing to report your income correctly can damage your reputation and credit rating.

Best Practices for Accurate Reporting:

• Keep Accurate Records: Maintain detailed records of all income, deductions, and credits.
• Use Form SSA-1099: Use the information reported on Form SSA-1099 to accurately report your Social Security benefits.
• Review Tax Returns: Carefully review your tax return before filing it to ensure that all information is accurate and complete.
• Seek Professional Advice: If you are unsure how to report your income or claim deductions, consult with a qualified tax professional.
• File on Time: File your tax return by the due date (including extensions) to avoid penalties.
• Pay on Time: Pay your taxes by the due date to avoid penalties and interest charges.

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FAQ: Taxability of Social Security Benefits

• Are Social Security benefits considered income by the IRS?
  Yes, the IRS considers Social Security benefits, including retirement, survivor, and disability benefits, as income for tax purposes.

• How does the IRS determine if my Social Security benefits are taxable?
  The IRS determines the taxability of your Social Security benefits based on your combined income, which includes half of your Social Security benefits plus all other sources of income.

• What are the income thresholds for taxing Social Security benefits for single filers?
  For single filers, up to 50% of your benefits may be taxable if your combined income is between $25,000 and $34,000, and up to 85% may be taxable if it’s over $34,000.

• What are the income thresholds for taxing Social Security benefits for married couples filing jointly?
  For married couples filing jointly, up to 50% of your benefits may be taxable if your combined income is between $32,000 and $44,000, and up to 85% may be taxable if it’s over $44,000.

• Is there a way to reduce the amount of my Social Security benefits that are taxed?
  Yes, you can reduce the taxable amount by managing the timing of income, contributing to tax-deferred retirement accounts, and optimizing deductions.

• Do all states tax Social Security benefits?
  No, most states do not tax Social Security benefits. However, some states do tax them, often with income-based exemptions.

• What form do I need to report Social Security benefits on my federal tax return?
  You need Form SSA-1099, which reports the total amount of Social Security benefits you received during the year.

• What happens if I don’t report my Social Security income correctly?
  If you don’t report your Social Security income correctly, you may face penalties, interest charges, and potentially an audit from the IRS.

• Can I deduct my Social Security benefits from my taxable income?
  No, you cannot directly deduct Social Security benefits, but various deductions and credits can lower your overall taxable income, indirectly reducing the tax impact on your benefits.

• Where can I find more information about the taxability of Social Security benefits?
  You can find more information on the IRS website, in IRS Publication 915, and by consulting with a qualified tax professional.