Table of Contents
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This publication explains the federal income tax rules for social security benefits and equivalent tier 1 railroad retirement benefits. It is prepared through the joint efforts of the Internal Revenue Service (IRS), the Social Security Administration (SSA), and the U.S. Railroad Retirement Board (RRB).
Social security benefits include monthly retirement, survivor, and disability benefits. They do not include supplemental security income (SSI) payments, which are not taxable.
Equivalent tier 1 railroad retirement benefits are the part of tier 1 benefits that a railroad employee or beneficiary would have been entitled to receive under the social security system. They are commonly called the social security equivalent benefit (SSEB) portion of tier 1 benefits.
If you received these benefits during 2007, you should have received a Form SSA-1099, Social Security Benefit Statement, or Form RRB-1099, Payments by the Railroad Retirement Board, (Form SSA-1042S, Social Security Benefit Statement, or Form RRB-1042S, Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board, if you are a nonresident alien) showing the amount.
Note.
When the term “benefits” is used in this publication, it applies to both social security benefits and the SSEB portion of tier 1 railroad retirement benefits.
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Whether any of your benefits are taxable,
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How much is taxable,
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How to report taxable benefits,
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How to treat lump-sum benefit payments, and
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Deductions related to your benefits, including a deduction or credit you can claim if your repayments are more than your gross benefits.
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Non-social security equivalent benefit (NSSEB) portion of tier 1 benefits,
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Tier 2 benefits,
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Vested dual benefits, and
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Supplemental annuity benefits.
Internal Revenue Service
Individual Forms and Publications Branch
SE:W:CAR:MP:T:I
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
National Distribution Center
P.O. Box 8903
Bloomington, IL 61702-8903
Publication
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505 Tax Withholding and Estimated Tax
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575 Pension and Annuity Income
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590 Individual Retirement Arrangements (IRAs)
Forms (and Instructions)
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1040-ES
Estimated Tax for Individuals -
SSA-1099
Social Security Benefit Statement -
SSA-1042S
Social Security Benefit Statement -
RRB-1099
Payments by the Railroad Retirement Board -
RRB-1042S
Statement for Nonresident Alien Recipients of: Payments by the Railroad Retirement Board -
W-4V
Voluntary Withholding Request
See How To Get Tax Help near the end of this publication for information about getting these publications and forms.
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