My father is 62 and is now living abroad in Europe. He has been without income for the past 2 years, and he has not done his taxes every year because of that (he has, however, written letters to the IRS notifying them of his situation).
He has paid his taxes faithfully for as long as he worked in the US for the past 40 years or so. Would his 2 years of "tax gap" hinder his social security checks?
2007-12-05 16:01:33 · 2 answers · asked by Allee K 3 in Business & Finance ➔ Taxes ➔ United States
His social security benefit is based on his average indexed monthly earnings for his highest 35 years. Not filing tax returns is irrelevant unless he had income from self employment. If he started to draw benefits now, he would take a 30% reduction from what he will be entitled to at his full retirement age of 66 with the the hit being reduced as he aproached that.
2007-12-05 16:33:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
No the benefit is based on his highest 35 years of earnings.
2007-12-05 16:16:11 · answer #2 · answered by shipwreck 7 · 1⤊ 0⤋