topic Re: SOCIAL SECURITY TAX QUESTION??? in Community Chat

SOCIAL SECURITY TAX QUESTION???

Fressa — Wed, 12 Dec 2018 18:54:33 GMT

I was hoping some one could help me wit hmy Social Security tax question. Has anyone changed their withdraw option from no tax to tax and how was the proces? I've heard nothing but bad situations about this but was hoping to get some first hand information from this forum.

I had to claim my SS earlier than I ever anticipated and didn't have any tax withheld. Now, my situation has changed so this is a problem. I really need to have tax withheld so I don't owe at the end of the year.

I downloaded the form and tried to call the SS office. After 60 minutes of waitng without a cs rep I thought I would ghet beeter advice from the forums. Anything you can tell me would be appreciated. Thanks in advance for your time.

Re: SOCIAL SECURITY TAX QUESTION???

gidgetgh — Wed, 12 Dec 2018 19:00:09 GMT

When I first started drawing mine late last year, I didn’t choose to have any Federal tax withheld.

The woman who does our taxes suggested I have 10% taken out so in March I googled social security federal tax form, found the form, printed it, filled it out, and drove it to the social security security office near us. They had a Dropbox set up so you could just put the forms in there. So you didn’t need to make an appointment or sit there for hours to meet with anyone.

They started taking the 10% out the next month. It was easy.

Re: SOCIAL SECURITY TAX QUESTION???

CountryCook — Wed, 12 Dec 2018 19:22:14 GMT

I had taxes taken out plus a extra 10% taken out. Did not have a problem.

Re: SOCIAL SECURITY TAX QUESTION???

lmt — Wed, 12 Dec 2018 19:37:00 GMT

@Fressa When my husband retired two years ago, our accountant suggested withholding 10%. There's no need to go in person to your local SS office. My husband just mailed the W-4 to them.

Re: SOCIAL SECURITY TAX QUESTION???

Carmie — Wed, 12 Dec 2018 19:40:54 GMT

I just didn't this for my husband yesterday.

Google Form W-4V. Print out the form and send to your local SS office. You can withhold 7%, 10%, 12% or 22% from your SS check.

it is easy to do. You can change it or cancel with this form too.

Re: SOCIAL SECURITY TAX QUESTION???

gizmogal — Wed, 12 Dec 2018 19:51:30 GMT

Here’s a link to the form. It’s in PDF so you can view it on any device and print it. It’s easy to fill out and then bring it to your SS office ir mail it in.

https://www.irs.gov/pub/irs-pdf/fw4v.pdf

I think your time was wasted by mistakenly trying to contact the Social Security folks for something that belongs as a tax matter. This is something the IRS publishes and facilitates once you are already enrolled for SS benefits.

Im sure you’ll have no problems with this now, having the advice from your pals here who are knowledgeable and generous to help you.

Also, if the forum isn’t around, Google is your friend!

Re: SOCIAL SECURITY TAX QUESTION???

meem120 — Wed, 12 Dec 2018 20:41:53 GMT

I think I did mine on line. It was very easy. Just print and mail.

Re: SOCIAL SECURITY TAX QUESTION???

Shelbelle — Wed, 12 Dec 2018 20:48:22 GMT

We dont have any taxes taken out of ours, we choose to pay one lump sum after our accountant does our taxes.

Re: SOCIAL SECURITY TAX QUESTION???

Cats3000 — Wed, 12 Dec 2018 21:17:24 GMT

No. You WON"T get a better answer here. Find the address of your nearest Social Security Office. I thik you can make an appointnebt ion-line. If not, you'll have to walk in, take a number and wait. You may actually be able to complete the change while you're there.

Re: SOCIAL SECURITY TAX QUESTION???

viva923 — Wed, 12 Dec 2018 21:33:20 GMT

dh and I do that 10% withhold.

Re: SOCIAL SECURITY TAX QUESTION???

Shelbelle — Wed, 12 Dec 2018 21:37:52 GMT

Do you have an accountant that does your taxes, that is the person to ask.

Re: SOCIAL SECURITY TAX QUESTION???

CelticCrafter — Thu, 13 Dec 2018 00:08:38 GMT

Well, it's too late for this year to do anything about the taxes that will be owed for 2018.

You can either download the form, print it out, fill it out and mail it to your local SS office or ask your tax person for one if you don't have access to a printer.

There are percentages on the form and you choose which percentage you want to have withheld. You can only choose from the percentages they have listed. You cannot ask that a specific $ amount be withheld either.

Re: SOCIAL SECURITY TAX QUESTION???

bells4me — Thu, 13 Dec 2018 01:05:40 GMT

I don’t pay tax on my social security. AARP does my taxes every year.

Re: SOCIAL SECURITY TAX QUESTION???

Carmie — Thu, 13 Dec 2018 01:57:59 GMT

@Cats3000 wrote:
No. You WON"T get a better answer here. Find the address of your nearest Social Security Office. I thik you can make an appointnebt ion-line. If not, you'll have to walk in, take a number and wait. You may actually be able to complete the change while you're there.

It sounds like you are old school, which is okay.

Today, in the modern world it is very easy to do it yourself. Most people sign up for Medicare and SS online. Those new to the programs are savvy computer users and no longer need to go to the SS office.

I remember going into the SS office with my mother to sign up. It took almost a year for her to get her first check...that how far behind they were back then. She got a large check with all of the back pay and passed before she got a chance to enjoy any of it.

Having federal taxes withheld from your SS check is quite simple. There is no need for anyone to go into the SS office for help.

if you are unsure how much money to you need to have withheld, your tax accountant would be helpful. No one at the SS office could advise you on that.

Re: SOCIAL SECURITY TAX QUESTION???

Jaspersmom — Thu, 13 Dec 2018 02:35:31 GMT

Did the whole thing online. Check with your accountant to determine how much you should have deducted. Easy peasy. Forget a visit to SS office. If your office is like mine, you'll wait forever and it's not necessary.

Re: SOCIAL SECURITY TAX QUESTION???

Highlands72 — Thu, 13 Dec 2018 02:56:08 GMT

@Carmie wrote:
@Cats3000 wrote:
No. You WON"T get a better answer here. Find the address of your nearest Social Security Office. I thik you can make an appointnebt ion-line. If not, you'll have to walk in, take a number and wait. You may actually be able to complete the change while you're there.
It sounds like you are old school, which is okay.

Today, in the modern world it is very easy to do it yourself. Most people sign up for Medicare and SS online. Those new to the programs are savvy computer users and no longer need to go to the SS office.

I remember going into the SS office with my mother to sign up. It took almost a year for her to get her first check...that how far behind they were back then. She got a large check with all of the back pay and passed before she got a chance to enjoy any of it.

Having federal taxes withheld from your SS check is quite simple. There is no need for anyone to go into the SS office for help.

if you are unsure how much money to you need to have withheld, your tax accountant would be helpful. No one at the SS office could advise you on that.

I agree. I recently went through the same process, helping my mother change her withholding percentage after my father passed.

The change went through simply and quickly, and I did not need her tax advisor's assistance.

Re: SOCIAL SECURITY TAX QUESTION???

DiAnne — Thu, 13 Dec 2018 03:18:15 GMT

Do it online. I have been retired for years and have never been to the Social Security office - the DMV is bad enough!

Re: SOCIAL SECURITY TAX QUESTION???

KentuckyWoman — Thu, 13 Dec 2018 12:15:35 GMT

DH and I don't have anything withheld from our SS. We always end up paying at the end of the year anyway and the amount they would withhold wouldn't help us that much.

If you have a lawyer or tax accountant that files your return each year ask them for assistance.

Re: SOCIAL SECURITY TAX QUESTION???

Tinkrbl44 — Thu, 13 Dec 2018 21:28:39 GMT

@Fressa wrote:
I was hoping some one could help me wit hmy Social Security tax question. Has anyone changed their withdraw option from no tax to tax and how was the proces? I've heard nothing but bad situations about this but was hoping to get some first hand information from this forum.
I had to claim my SS earlier than I ever anticipated and didn't have any tax withheld. Now, my situation has changed so this is a problem. I really need to have tax withheld so I don't owe at the end of the year.
I downloaded the form and tried to call the SS office. After 60 minutes of waitng without a cs rep I thought I would ghet beeter advice from the forums. Anything you can tell me would be appreciated. Thanks in advance for your time.

@Fressa

Uh ..... Too late for 2018.

Have you looked this up on the SS website? Even if someone here is a CPA, I would be leery of accuracy of the information.

If the SS website info doesn't work, go to your SS office first thing Saturday morning and talk to a human..

Re: SOCIAL SECURITY TAX QUESTION???

Fressa — Fri, 14 Dec 2018 19:22:11 GMT

Thank you all for your help and suggestions. I appreciate you taking the time to answer. I feel that I'm better informed to make my choice by the end of the month for the 2o19 tax year. I do have an accountant and a tax person but I have found that there is not such thing as a quick answer with either. I wanted to have some hands on results from others that have been thru this before me. I find that is usually the best information.Thank You.