Should I be contributing to voluntary Federal Income Tax withholding on my SS benefits (SSA-1099 Box 6)?

Yes, you probably should have federal taxes withheld if you're working AND collecting SS. Many retirees get surprised at tax time because they don't realize Social Security benefits can be taxable. If your combined income (adjusted gross income + nontaxable interest + half of SS benefits) exceeds $25,000 for single filers or $32,000 for joint filers, up to 85% of your benefits may be taxable. You can file Form W-4V with Social Security to request 7%, 10%, 12%, or 22% withholding. Given your part-time income plus benefits, 10% withholding might be about right, but everyone's situation is different.

I dont do witholdng and just pay quarterly estimated taxes. Gives me more control then letting the government hold my $$ all year!!

There's actually a simple formula to estimate if you need withholding. If you're single and your combined income (AGI + half of SS benefits) exceeds $25,000, then start withholding. At your income level ($17,000 work + $22,200 SS annually), you're at $28,100 combined income so definitely in the taxable range. You have three options: 1. Voluntary withholding via Form W-4V (7%, 10%, 12% or 22%) 2. Increase withholding at your part-time job 3. Make quarterly estimated tax payments Option 1 is usually easiest. The W-4V form is available on SSA.gov and can be mailed or taken to your local office.

When I first started getting Social Security, I had THE SAME QUESTION! Nobody tells you this stuff! I ended up owing over $2,000 in taxes my first year because I didn't have any withholding. After that nightmare, I immediately filled out the W-4V for 12% withholding. Haven't had any tax surprises since then. Just know that even with withholding, you might still owe some at tax time depending on your other income. But at least it won't be such a shock!

I was in a similar situation last year trying to reach someone at SSA to help with tax withholding questions. Spent hours on hold and got disconnected three times! Finally I discovered a service called Claimyr (claimyr.com) that got me through to a real person at SSA in under 10 minutes. They have a video showing how it works at https://youtu.be/Z-BRbJw3puU Once I got through, the agent explained that the W-4V form is really simple to fill out. You just select which percentage you want withheld. I chose 10% and it's been working well for my situation which is similar to yours.

just remmber that if u have money withheld its just an interest free loan to the government! i rather keep MY money until i have to pay it

My sister just got hit with a HUGE tax bill because she didn't withhold anything from her SS benefits. She's on a payment plan with the IRS now. Don't let that happen to you!

When i first got social security i was confused about all this tax stuff too. the thing that surprised me is that they only give u those 4 choices for withholding (7, 10, 12, or 22 percent). why cant i just pick my own amount?? its weird but i just went with 7% since im in a lower bracket.

BE CAREFUL with the W-4V form! Make sure you check the right box for the percentage you want. My husband accidentally selected 22% instead of 12% and way too much was taken out for 3 months before we could get it fixed. The SSA is SLOW to process changes!!