Are there certain prefixes that are not valid Social Security Numbers?
Do you have medicare deductions from your social security check?
How can a resident alien in the US collect social security payments after going back to their own country?
How do you change your name on your social security card?
How do you determine the tax on a lump sum social security disability check?
What can I do about unauthorized use of my social security number?
Will a private pay nursing home have the right to take over my mom's Social Security payments?
Do you have to pay the government out of money the government pays you?
No, it's not taxable. You only have to pay if you worked for it. But in this case I'm not really that sure. That is why you should consult an accountant.
It may be taxable based on how much money you make from other sources. It is likely not taxable if social security is your only income.
Yes, income from all sources is taxable by the federal government. This includes social security payments, pensions received, and even unemployment benefits.
As with many things related to the IRS, the answer is "It Depends." There are worksheets on the IRS website that can help you answer this question. Good Luck!
It's not directly taxable but they do find ways to get some of it back. Talk to your accountant about it and see if there isn't a way you can avoid it.
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