2007-07-12 06:41:35 · 8 answers · asked by ? 5 in Business & Finance ➔ Taxes ➔ United States
They are not taxed unless you make a lot more than your Social Security checks provides. When you are taxed you are no longer in the low income bracket.
2007-07-12 06:49:50 · answer #1 · answered by Zack 4 · 2⤊ 0⤋
There are no income taxes owed on Social Security checks to recipients (regardless of age) who fall below income threshholds.
For example, if a recipient only receives SS benefits, they are tax-free.
Another example: If a single recipient received $20,000 in SS benefits (pretty close to the maximum), he could still have $15,000 of other income before having any SS benefits taxed.
I see no reason to impose taxes on SS recipients who have little other income.
2007-07-12 13:51:00 · answer #2 · answered by ninasgramma 7 · 4⤊ 0⤋
They aren't. If SS is your only income, it's not taxable at all. Only if 1/2 of your SS plus all other income exceeds $25k (Single taxpayer, $32k married filing jointly) is any of it subject to taxation. That's not exactly wealthy, but is enough to survive on in most areas.
2007-07-12 14:24:55 · answer #3 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Going through the same thing myself, IRS wants me to add my pension to my husband's social security check to see how much is taxable......... However ,S.S. does not give me any benefits..?and they want us to believe it is not a double tax; who was F.I.C.A. ,S.S.taxes and all those other people that were taking your money out your paycheck every payday...?
After using this article along with a copy of the Constitution ,found out a lot of stuff I guess we were not suppose to know.......?Get yourself TAX EDUCATED to protect yourself because IRS is not going to tell you anything--- they are now required to post the C.O.F.R.(codes of federal regulations) online now ; but they are not going to tell you that.type in
www.agenturus.org/IRSFraud.htm
pay attention to pg 27 when you get to it.
In my case, I found 2 of the CFR's in my favor. Neither one of us are liable for SUBTITLE A taxes-----which is HIDDEN within SUBTITLE C ,(employment taxes) For over forty years this is where the taxes my husband paid were allocated to;why isn't it a double tax..? Hold on to your hat and get busy,we all are going to have to bind together to fight this mess ! Complain !Complain! to your congressman .
DON'T GET DISCOURAGED BY ANYONE; YOU WILL SEE THE LAW UNFOLD BEFORE YOUR EYES! WE HAVE BEEN TRAINED "WRONGLY " REGARDING OUR TAX SYSTEM. GET BUSY!!!!!!
In your case (after reading this article) you may want to go online to social security to locate the CFR's for your marital status or other classification if you are single. My code was found at : ...www.social security.
(cfr416.1202 ) CFR 20Title Page
My PENSION IS NOT ;.............. !!!!!!! NOW IF I HAD WAGES , there are laws for that TOO.........!!!
wish you well
2007-07-12 14:46:27 · answer #4 · answered by skyy 2 · 0⤊ 3⤋
make thos illegal mexicans pay the seniors taxes its only fair we pay for their babies to be born here !!!!1
2007-07-12 15:35:15 · answer #5 · answered by silkbutterfly1973 5 · 0⤊ 1⤋
NO, they contributed enough to our world, they made it work until we got there, they deserve a "TAX BREAK" !
2007-07-12 13:49:52 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Might as well; they screw everybody else to the wall.
2007-07-12 19:23:59 · answer #7 · answered by acmeraven 7 · 0⤊ 1⤋
No. It makes no sense. It is counterintuitive. It is only because we have such greedy politicians!!
2007-07-12 13:49:59 · answer #8 · answered by MensaMan 5 · 0⤊ 2⤋