En español | Yes. You can specify when you file your claim for Social Security benefits that you want federal income taxes withheld from the payments.
If you’re already getting benefits and then later decide to start withholding, you’ll need to fll in a voluntary withholding request, also known as Internal Revenue Service Form W-4V, and submit it by mail or in person to your local Social Security office.
[Editor’s note: The Social Security Administration temporarily closed local offices to the public on March 17, 2020, in response to the coronavirus threat. Social Security services remain available online and by phone. We will update this article when the field offices reopen.]
You’ll have the option of diverting 7 percent, 10 percent, 12 percent or 22 percent of your monthly benefits toward your income tax bill. You can also use the form to change your withholding rate or stop the withholding.
Keep in mind
- Your Social Security benefits are taxable only if your overall income exceeds $25,000 for an individual or $32,000 for a married couple filing jointly. If the income you report is above that threshold, you could pay taxes on up to 85 percent of your benefits.
Updated March 17, 2020