Can I make quarterly tax payments instead of SS benefit withholding? Frustrated with W-4V limitations

Yes, you can absolutely pay quarterly estimated taxes instead of having Social Security withhold taxes from your benefits! Many retirees do this because it gives you more control. Just use Form 1040-ES for your quarterly payments. The advantage is you can calculate exactly what you need to pay (your 11.1%) rather than being locked into SSA's fixed percentages. The payments are due April 15, June 15, September 15, and January 15 of the following year. As for the W-4V processing time, it varies wildly. In my experience, changes took 4-6 weeks to take effect, but I've heard of cases taking much longer, especially if your local SSA office is backlogged.

i did quartly payments for years its EASY! just go on irs.gov and you can pay direct from bank account. the SSA withholding is a nightmare i tried changing mine 3 times last year and they kept doing it wrong!!!

I had the exact same frustration with the W-4V limitations. I needed about 15% withheld but had to choose between 12% and 22%. I opted for quarterly payments instead and it's been much better. One important point - you need to be disciplined about setting aside the money and making the payments on time. The IRS Direct Pay system makes it easy to pay online. It's better than the old paper voucher system. Regarding the W-4V processing time - when I tried it in 2023, it took nearly 8 weeks for the withholding to start, and when I tried to change it, that took another 7 weeks. The inconsistency is maddening. At least with quarterly payments, you're in control.

The SSA is TOTALLY INCOMPETENT when it comes to tax withholding!!! I submitted a W-4V TWICE last year and they lost it both times!!! Then when I finally got someone on the phone (after calling for THREE DAYS), they told me it would take "4-6 weeks" to process. IT TOOK THREE MONTHS!!! Do yourself a favor and just do the quarterly payments. The SSA is living in the stone age with their paper forms and manual processing. It's RIDICULOUS that in 2025 we can't just log in and change our withholding percentage online!

I had a similar issue but with 13.5% being my ideal withholding percentage. I tried the quarterly payment approach and it worked well for me, though there are a few things to be aware of: 1. Set calendar reminders for the quarterly due dates (Apr 15, Jun 15, Sep 15, Jan 15) 2. Keep a separate savings account for the tax money so you don't accidentally spend it 3. If your income changes during the year, recalculate your quarterly payments I've been doing this for 3 years now and it's much better than dealing with the SSA withholding system. You can even set up automatic payments through the IRS Direct Pay or EFTPS systems once you're registered.

Has anyone ever just split the difference? Like I needed to withhold about 18% so I just did the 22% option because I'd rather get a refund than owe. My sister did the opposite - went for 7% when she needed like 9% and just paid the difference at tax time. Seems easier than doing all those quarterly payments and calculations.

When I was having trouble getting through to Social Security about my withholding issues, I tried Claimyr (claimyr.com) and it worked great. They connected me to a live SSA agent in about 15 minutes when I had been trying for days. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU The agent I spoke with was able to check the status of my W-4V form and confirm when the withholding change would take effect. Saved me a trip to the local office and hours on hold.

My parents have been dealing with Social Security benefits for years and my dad always says just do what's easier. If calculating exact percentages and doing quarterly payments is easier for you, go with that. If set-it-and-forget-it withholding is easier (even if not exact), go with that. Either way, you'll square up at tax time. I think people overthink this stuff sometimes. Both systems work fine! Just pick whatever causes you less stress throughout the year.

Thank you everyone for the incredibly helpful advice! I've decided to go with quarterly payments using Form 1040-ES. I like having more control and being able to use my exact 11.1% calculation. I'll set up a separate savings account as suggested and set calendar reminders for the payment dates. It seems like most of you have had frustrating experiences with the W-4V processing times, so I'm glad to avoid that headache. The Direct Pay system sounds much more convenient than I realized. Really appreciate all the tips and real-world experiences!

one more thing i forgot to mention - if you do the quarterly payments make sure you keep really good records cause the irs doesn't always give you credit right away for them. my daughter had this problem last year and had to send proof she paid

As someone new to Social Security benefits, I found this thread incredibly helpful! I'm in a similar situation where the standard withholding percentages don't match what I need. Based on everyone's experiences here, it sounds like quarterly payments are definitely the way to go. One question I have - for those doing quarterly payments, do you calculate based on just your SS benefits being taxable, or do you factor in other retirement income too? I have a small pension and some investment income, so I'm trying to figure out the best approach for calculating my quarterly amounts. Also, has anyone tried using tax software to help estimate the quarterly payments? I'm wondering if programs like TurboTax or H&R Block have good calculators for this.