Do social security recipients need to file for a tax return?

Answer 1

It depends on what other income they have. If only social security or only a couple thousand other income, then no. There's a limit each year, and if you're below that (not counting the social security income) then you don't have to file. Last year was $8200 for a single person under 65, a little more if 65 or older, and $16,400 for a married couple if both are under 65, a little higher if one or both is 65 or older. The cutoff number for having to file is the standard deduction for your age and filing status, plus exemptions which last year were $3200 for each person.

When looking at the cutoff to determine whether you have to file, you do not count your social security, since social security isn't taxable if your total income is below those levels. If you have a higher income, it is possible, depending on how much your income is, that part of your social security, up to 85%, will be taxable.

Look into programs called VITA and TCE, where taxes for low to moderate income people are prepared by trained volunteers at no cost. Most sites are able to file electronically, which gets your refund to you faster if you have one coming. Information can be found on irs.gov - type VITA in as a keyword/search term in the box at the upper left. Sites are typically open from late January or early February through April 15, and are often in senior centers, public libraries, shopping malls, and other locations.

Answer 2

Yes, Social Security recipients do need to file a tax return. Some part of the Social Security may be taxable and if so you will have to pay tax on it. You may have a refund due and have to file a return in order to get that refund.
I recently filed for a home loan and the first thing I was ask was do you and your husband file a tax return. I was surprised by this question as we have always filed a return so I ask why she ask. She told me that a lot of seniors do not file tax returns and if you don't file tax returns you can't get a home loan. That was a real eye opener for me. SO BE SURE YOU FILE YOUR TAX RETURNS.

Answer 3

Only if you meet the filing requirements. If you're income is solely from Social Security, then you will not have enough income to meet the filing requirements. If you have other sources of income, then you may need to file a tax return. If you call a local HR Block office, they will answer your questions at no cost.

Answer 4

Please read the instructions for the Form 1040 to find out when and if you need to file. You can get all the information you ever wanted to know about taxes by reading the instructions for the forms. Don't rely on Yahoo answers for tax advice. Many people are simply wrong.

The instructions for the 1040 are here:

Go to page 12 and read Chart A for information on if you should file.
http://www.irs.gov/pub/irs-pdf/i1040.pdf

Answer 5

I'm no tax expert, but I think that anyone has to file if they earn over $15000/year?

Answer 6

Not if that is your only income.
It's tax free and not earned income.