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Jeff1210
New Member

Social Security penalties for early recipients who have taxable income

Please clariy if tax penalties can be assessed on Social Security income for early benefit recipients.

 

I will not achieve full retirement age until next year.  If I begin receiving social security benefits this year, and have taxible income, will I be liable for a social security penalty in addition to possibly paying income taxes on these benefits in 2022?

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1 Reply
JaredS_CPA
Employee Tax & Finance Expert

Social Security penalties for early recipients who have taxable income

Hello Jeff1210,

Thank you for participating in our Ask the Expert event today. As to your question, I think this article from the Social Security Administration will be helpful to you. I hope that helps. Good luck.

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