Check Your Mailbox for Your SSA-1099 Form

Social Security recipients should be checking their mailboxes for their Social Security Benefit Statement, or SSA-1099. The Social Security Administration mails out these forms every January, at the start of tax season. According to an article by USA Today, this information is needed when filing your federal tax return. 

It’s important to understand that if you receive Social Security benefits from the government, that money is subject to taxes. According to the Social Security Administration, about 40 percent of Social Security recipients pay federal income tax on their benefits. The amount you pay is determined by a calculation that involves what the IRS calls “combined income” and varies based on your income and whether you are filing a joint or individual tax return.  

The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will ensure solvency for decades to come and give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits.