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Level 1

I read somewhere that self-employment tax was no longer owed after full retirement age. Is this correct?

I read that after age 67, IRS no longer collected self employment tax but TurboTax calculated it. Is that one of the loopholes closed in the new tax law?

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Level 9

I read somewhere that self-employment tax was no longer owed after full retirement age. Is this correct?

I know there is a lot of conflicting information when it comes to taxes owed once you retire. Unfortunately, not all of it is true. The self-employment tax rules apply no matter how old you are and even if you are already receiving Social Security or Medicare.

Please view Who Must Pay Self-Employment Tax? included in the IRS link below for verification.

https://www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-an...