Social Security Payments to be taxed
I have started to receive social security payments and want to know how much I should have the Social Security Administration to take out of my check so that I will not be penalized for the 2026 tax season. Payments began August 2626. I was told by the administration anything $25,000 and above need to be taxed. What information can you give me to keep me from being penalized for the upcoming tax season.
Best Answer
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It depends on your other income and your filing status. If your only income in 2026 is from Social Security, and you are not married filing separately, you will not owe any income tax, since the taxable amount will be less than your standard deduction.
Since you probably have other income in 2026, you will need to calculate your taxable income. For a rough estimate, take half of your Social Security, and add your other income. If the result is less than $25,000 (assuming you are single), then none of your Social Security is taxable. If more than $25,000, you can prepare a test tax return using 2025 software to get an idea of what you will owe. Another option is to use the IRS withholding estimator:
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Answers
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Hi Tootsie,
In general, the amount of your social security income that may be subject to tax, and therefore may benefit from voluntary federal income tax withholding, is dependent on other income you also receive and your filing status.
You might like to go through a copy of the blank worksheet in IRS Publication 915, Social Security and
Equivalent Railroad Retirement Benefits, on page 16 titled Worksheet 1. Figuring Your Taxable Benefits. This information, combined with other income that is taxable will help you determine if you need to start making voluntary federal withholding payments from your social security benefits using Form W-4V, Voluntary Withholding Request.0 -
I received the form W-4V to fill out from the Social Security Administration. The form is asking for 7%, 10%,12%,or 22%. I'm not sure what amount I should take out to keep from paying the IRS. I was told that I can make as much money on my jobs because I'm full retirement age 66 years 10 months. October 11, 2026 age 67. Total payments to be received by January 1, 2027 $10,000. What percentage amount should I take out and should I fill this form out now or wait for 2027 tax season
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I was told that I can make as much money on my jobs because I'm full retirement age …
They mean that your Social Security payments will not be reduced because of your other income. (If you had started taking SS before your full retirement age, your payments could be reduced if you earned too much.) But this has nothing to do with income tax.
The amount of income tax you will owe depends on your other income. If you are single, you can earn about $20,000 before any of your Social Security becomes taxable. If you earn more than that, use one of the options listed above to see how much income tax you will owe. You can have money withheld from either your job or your Social Security (or both) to cover the taxes.
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Hello again,
That's a great question you're asking, and a common one.
However, this has more to do with tax planning which we're not able to assist you with. FreeTaxUSA is an online tax preparation and filing company. We don't determine what percentage of withholding tax to have withheld from your social security benefits since all facts and circumstances matter on your income for the year and filing status.
If you start withholding now in calendar year 2026, you'll have a feel for how this will affect your monthly benefits in the last couple of months since it takes awhile for Form W-4V to process. A smaller percentage might be a good starting point. You can always update the form and increase the amount of withholding tax going forward.
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GregW thank you, I have a little more understanding on what route I need to take so I wouldn't have to owe the IRS in the upcoming tax season. You have been a great help. I will see how well I do in the tax season to come. Thanks, Lydia😊
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KristineS thank you for your response, I understand. I will send the form back with my deduction and see how well I have planned this. I'll keep playing with the numbers until I get it right so I wouldn't have to pay the IRS. Thank you, Tootsie😊
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