Many people do not realize that they may need to pay income taxes on their Social Security benefits. (This includes monthly retirement benefits, Social Security Disability Insurance benefits and survivor benefits.) Supplemental Security Income benefits are never taxed.
The good news is that if Social Security benefits are your only income, you will likely be below the taxable level. However, if you have other income, you may have to pay taxes.
For details on when benefits are taxable, click here.
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