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Esteemed Contributor
Posts: 5,597
Registered: ‎03-20-2012

SOCIAL SECURITY TAX QUESTION???

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.

Honored Contributor
Posts: 13,026
Registered: ‎03-09-2010

Re: SOCIAL SECURITY TAX QUESTION???

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. 


Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?
Occasional Contributor
Posts: 14
Registered: ‎10-23-2018

Re: SOCIAL SECURITY TAX QUESTION???

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

Respected Contributor
Posts: 4,346
Registered: ‎05-19-2010

Re: SOCIAL SECURITY TAX QUESTION???

@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.

 

 

Honored Contributor
Posts: 19,200
Registered: ‎10-25-2010

Re: SOCIAL SECURITY TAX QUESTION???

[ Edited ]

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.

Trusted Contributor
Posts: 1,941
Registered: ‎05-09-2014

Re: SOCIAL SECURITY TAX QUESTION???

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!

Respected Contributor
Posts: 2,330
Registered: ‎03-09-2010

Re: SOCIAL SECURITY TAX QUESTION???

[ Edited ]

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

Honored Contributor
Posts: 29,646
Registered: ‎03-09-2010

Re: SOCIAL SECURITY TAX QUESTION???

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

Respected Contributor
Posts: 2,205
Registered: ‎10-07-2013

Re: SOCIAL SECURITY TAX QUESTION???

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.

Honored Contributor
Posts: 21,008
Registered: ‎03-12-2010

Re: SOCIAL SECURITY TAX QUESTION???

dh and I do that 10% withhold.