So this means that my social security monthly payment will get deducted because of this 1099 job after I file and pay taxes? I don't want to lose my SSI/SSA income because I get sick alot. The insurance health care. Will this be a issue with social security office or my payment or the IRS agency do or don't report tax information to the social security or Medicare. Why do I have to file self employed taxes and can I keep my social security benefits monthly
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Hi, Expression,
This looks like a new post related to an old one, so I am jumping in w/o full background, but hopefully this will address your concerns. If not, please do follow up with us!
We recommend you contact the Social Security office regarding the impact of earned income on your disability payments. Here's what I did find:
IRC Section 6103(l)(1) provides that return information related to taxes imposed under chapters 2, 21, and 24 may be disclosed to the Social Security Administration (SSA) as needed to carry out its responsibilities under the Social Security Act. Chapter 2 relates to self-employment income and does not normally concern employers. Chapter 21 concerns Social Security and Medicare (FICA) tax, and chapter 24 deals with income tax withholding.
The IRS may therefore share information with SSA about Social Security and Medicare tax liability if necessary to establish the taxpayer's liability. This provision does not allow the IRS to disclose your tax information to SSA for any other reason. SSA employees who receive this information are bound by the same confidentiality rules as IRS employees. Therefore, they generally cannot disclose the information to a state Social Security Administrator (SSSA), state officials or other federal agencies.
While we don't speak for the SSA, it does appear you are required to report wage and other income to the SSA. Here's a link about that.
Hope this helps!
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Karen
TurboTax Expert
Hi, Expression,
This looks like a new post related to an old one, so I am jumping in w/o full background, but hopefully this will address your concerns. If not, please do follow up with us!
We recommend you contact the Social Security office regarding the impact of earned income on your disability payments. Here's what I did find:
IRC Section 6103(l)(1) provides that return information related to taxes imposed under chapters 2, 21, and 24 may be disclosed to the Social Security Administration (SSA) as needed to carry out its responsibilities under the Social Security Act. Chapter 2 relates to self-employment income and does not normally concern employers. Chapter 21 concerns Social Security and Medicare (FICA) tax, and chapter 24 deals with income tax withholding.
The IRS may therefore share information with SSA about Social Security and Medicare tax liability if necessary to establish the taxpayer's liability. This provision does not allow the IRS to disclose your tax information to SSA for any other reason. SSA employees who receive this information are bound by the same confidentiality rules as IRS employees. Therefore, they generally cannot disclose the information to a state Social Security Administrator (SSSA), state officials or other federal agencies.
While we don't speak for the SSA, it does appear you are required to report wage and other income to the SSA. Here's a link about that.
Hope this helps!
**Please cheer or say thanks by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Regards,
Karen
TurboTax Expert
What is this saying about the IRS me filing taxes?
Let me clarify: when you work, you're required to report ALL income you earned in the US on your tax return. Whether you receive a W-2 or 1099 form or just cash or a check, you're required to report ALL the income on your tax return. When you sign your return, you are certifying under penalty of perjury that all the information contained the return is correct. If you choose to only report some of your income, you are not doing your taxes correctly.
I am not familiar with SSI and it's eligibility requirements, but here's what I found, (link included from source of information):
Income, for the purposes of SSI includes:
Why is income important to the SSI program?
How does your income affect your SSI benefit?
Step 1: We subtract any income that we do not count from your total gross income. The remaining amount is your "countable income."
Step 2: We subtract your "countable income" from the SSI Federal benefit rate. The result is your monthly SSI Federal benefit as follows:
1) Your Total Income
- Your income that we do not count
= Your countable income
2) SSI Federal benefit rate
- Your countable income
= Your SSI Federal benefit
Total monthly income = $317 (Gross wages)
1) $317 (Gross wages)
-20 (Not counted)
$297
-65 (Not counted)
= $232 divided by 1/2 =$116 (Countable income)
2) $943 (SSI Federal benefit rate)
-116 (Countable income)
=$827 (SSI Federal benefit)
What will we do if there is an overpayment?
We will send you a notice explaining the overpayment and asking for a full refund within 30 days. If you are currently getting payments and you do not make a full refund, the notice will:
Maximum monthly SSI payment for 2024 is $943 for an individual.
Living with others may affect your payment
There is more information contained in the link I posted above, but I included the information here that I thought would help you.
I apologize for not having the definitive answer about your SSI benefits, I know a lot about taxes, but next to nothing about SSI!
Please contact the SSA at this number to get your questions about your SSI benefits answered by a SSI Expert: 1-800-772-1213 between 8:00a - 7:00p Monday through Friday. Wait times are typically shorter in the morning, later in the week, and later in the month.
I hope this helps.
If you get SS or SSDI Social Security Disability that is not ssi. ssi is something else. Your 1099NEC income might not affect your SSDI. But your SSDI might be taxable too. You need to report all your income including the SSDI. You should get a SSA-1099 for it.
Up to 85% of Social Security becomes taxable when all your other income plus 1/2 your social security, reaches:
Married Filing Jointly: $32,000
Single or head of household: $25,000
Married Filing Separately: 0
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