Hello @Bill_Ha ,
Here is more information if you delay receiving retirement benefits
When you receive your Social Security benefit payment, it is possible that taxes may be withheld, depending on your income level and tax situation. The amount of tax withheld depends on a number of factors, including your filing status, your total income, and the amount of Social Security benefits you receive.
For federal taxes, the IRS uses a formula to determine the portion of your Social Security benefits that is subject to taxation, known as the "combined income" formula. If your combined income (which includes half of your Social Security benefits plus your other income) is above a certain threshold, a portion of your benefits may be subject to federal income tax. The tax rate you pay on your Social Security benefits depends on your total income and tax bracket. Here is more information about the tax rate(s).
In addition to federal taxes, some states also tax Social Security benefits. California is one of the few states that does not tax Social Security benefits, so you will not have to pay state income tax on your benefits.
It's worth noting that the Social Security Administration does not automatically withhold taxes from your benefit payments. However, you can choose to have taxes withheld from your benefits by completing IRS Form W-4V and submitting it to the Social Security Administration.
I hope this helps.
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