how does not reporting additional income to IRS effect monthly social security payments if over age 70?

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how does not reporting additional income to IRS effect monthly social security payments if over age 70?

2006-11-27 03:43:03 · 2 answers · asked by hello 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

Fraud is an offence..these days with all departments linked by Computer fraud is much easier to spot..surely its easier to declare the money and pay the taxes..at 70 I imagine you would find a spell in prison pretty nasty...

2006-11-27 03:51:48 · answer #1 · answered by geordie.lady 6 · 0⤊ 0⤋

It shouldn't affect the social security payments at all. Those were earned based on your life long earnings not continually recalculated after retirement.

2006-11-27 11:51:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋