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You must pay taxes on your Social Security benefits if you file a federal tax return as an individual and your combined income exceeds $25,000 a year. If you file a joint return, you must pay ...
The IRS will only ask you to file a tax return if your gross income is greater than or equal to the minimum filing threshold for the current year. For 2024, the IRS has set the following minimum ...
Determining whether you should file taxes as an SSI beneficiary depends on your income and how it might impact potential refunds and tax credits. Before filing your taxes this year, find out how ...
It also proposed an income tax on the Social Security benefits of higher-income individuals. This meant that benefits in excess of a household income threshold, generally $25,000 for singles and $32,000 for couples (the precise formula computes and compares three different measures) became taxable.
1040. As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.
By filing your return in 2024, most, if not all, of those taxes will come back in a refund. You Can Earn a Tax Credit. Certain Social Security recipients qualify for tax credits such as the Earned ...
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