Social Security – Will I Owe Tax On My Benefits?

In Common Tax Questions, IRS Tax Help, Tax Planning, Uncategorized by Daniel Friedel

Whether or not you will owe tax on Social Security benefits will vary based on your situation.  Generally speaking, if your Social Security benefits were your ONLY source of income, you MAY NOT be subject to Federal income tax and MAY NOT have to file a tax return. Taxpayers whom receive Social Security benefits in 2014 should receive a Form SSA-1099.  This form shows the Social …