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New Member
posted Mar 15, 2021 6:41:30 AM

Why do I owe so muchsecurity this year, it’s my first year on social

Why do I owe so much money ? This was my first year on social security

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1 Replies
Expert Alumni
Mar 15, 2021 7:24:44 AM

Do you have any other income besides Social Security?

 

SS benefits are taxable and, when added to your other income, may have increased your taxes significantly.

 

If this is your first year on Social Security, you probably did not have any federal tax withheld from those payments. Unless you had taxes withheld from your SS, you will have to pay the additional tax with your return.