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Are Social Security benefits taxable income?

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When did Social Security Benefits become taxable under the IRS Income Tax Code?

In 1981 the National Commission on Social Security Reform (sometimes referred to as the Greenspan Commission after its Chairman) was appointed by Congress and President Reagan

Does your wife's income affect your Social Security benefits?

No. Both Social Security retirement and disability benefits are tied to an individual's contributions to the fund during the course of his or her working life.* There is no me

Are Social Security benefits subject to state income tax?

Fourteen of the 50 states tax Social Security benefits (through 2010): Same rate as Federal Government MinnesotaNebraskaNorth DakotaRhode IslandVermontWest Virginia Tax So

What portion of Social Security is taxable income?

You will have to use the worksheet to determine the correct amount. If you have other worldwide income, tax exempt interest, tax exempt dividends, etc it is possible that from

What is the taxable amount of social security benefits?

From 50% to 85% of your SSB can become taxable income at your marginal tax rate when you have other sources of worldwide income and tax exempt interest and dividends that have

When did Social Security retirement benefits become taxable?

  Social Security retirement benefits became taxable during the Carter administration at the same time Unemployment benefits were made taxable (also under the Carter admin

Is imputed benefit income taxable?

Yes, imputed benefit income is subject to federal taxation. It is considered Taxable noncash compensation but is not included in gross pay.

What is the maximum amount of income you can have and receive social security benefits?

After "full retirement" age (currently 66 for people reaching retirement this year) there is no limit. I am 67 and still earning in the six figure range and get full social se

Are social security benefits considered income?

Yes social security benefits are considered to be income and when you have other sources of worldwide income it is possible for some your social security benefits to become ta