Social Security
The most frequently asked tax questions related to Social Security
For Tax Payers
Need professional help with a specific tax issue or have general tax questions? Ask a CPA is the easiest way to get advice from a licensed accountant in our network.
Ask a Tax QuestionFor Accountants
Provide answers to tax questions and introduce your practice to new potential clients. Build your CPAdirectory profile and earn reputation points.
Answer Tax QuestionsSocial Security - Withholding Maximum
Asked Monday, December 18, 2000 by an anonymous user
For the current year, wages up to $113,700 are subject to Social Security tax and the maximum Social Security withholding would be $7,049.40.
Employers should withhold Social Security taxes (6.2 percent) from employee's wages up to $113,700 and withhold Medicare tax (1.45 percent) on all wages.
For 2014, wages up to $117,000 are subject to Social Security tax and the maximum Social Security withholding would be $7,254.
Employers should withhold Social Security taxes (6.2 percent) from employee's wages up to $113,700 and withhold Medicare tax (1.45 percent) on all wages.
For 2014, wages up to $117,000 are subject to Social Security tax and the maximum Social Security withholding would be $7,254.
Social Security - Ministers Form 4361
Asked Monday, December 18, 2000 by an anonymous user
The Form first used to claim exemption from social security is filed on IRS Form 4361. The exemption once granted is irrevocable unless requested within a 27 and a half initial period.
Exempted Ordained Ministers, Priests, or Rabbi's may revoke the original election and re-elect social security coverage by filing out IRS Form 2031.
Once you revoke the exemption you can never elect exemption from social security coverage again.
Exempted Ordained Ministers, Priests, or Rabbi's may revoke the original election and re-elect social security coverage by filing out IRS Form 2031.
Once you revoke the exemption you can never elect exemption from social security coverage again.
What is the Social Security Administrations phone number ?
Asked Friday, December 01, 2000 by an anonymous user
If your name or social security number on your social security card is incorrect or you need to speak to the Social Security Administration the phone number is 1-800-772-1213.
Social Security Disability - Duration
Asked Monday, November 20, 2000 by an anonymous user
Generally, there is no limit to the duration of Social Security disability benefits.
If you qualify, you will keep collecting Social Security Disability benefits as long as your disability condition prevents you from working.
The Social Security Administration will periodically review your case to see if there has been an improvement in your disabled condition.
If you are once again determined healthy enough to work, your benefits will stop. If you are still receiving benefits when you reach age 65, your disability benefit will be automatically converted to retirement benefits.
If you qualify, you will keep collecting Social Security Disability benefits as long as your disability condition prevents you from working.
The Social Security Administration will periodically review your case to see if there has been an improvement in your disabled condition.
If you are once again determined healthy enough to work, your benefits will stop. If you are still receiving benefits when you reach age 65, your disability benefit will be automatically converted to retirement benefits.
Social Security - Survivor's web site
Asked Thursday, October 26, 2000 by an anonymous user
The website is http://www.socialsecurity.gov/pgm/survivors.htm.
To apply for your Survivor's Social Security benefits or Retirement benefits, call 1-800-772-1213. The hours of use are between 7 a.m. and 7 p.m., Monday through Friday.
After answering some questions, a completed application will be mailed to the applicant for their signature and possible copies of additional required documents, such as marriage certificate or divorce papers.
To apply for your Survivor's Social Security benefits or Retirement benefits, call 1-800-772-1213. The hours of use are between 7 a.m. and 7 p.m., Monday through Friday.
After answering some questions, a completed application will be mailed to the applicant for their signature and possible copies of additional required documents, such as marriage certificate or divorce papers.
Social Security - Correcting a Social Security Number
Asked Thursday, October 19, 2000 by an anonymous user
If your child's stock was sold through a custodial account and the tax information statement incorrectly reflects your Social Security number instead of your son's Social Security number, you should fill out IRS Form W-9 which is the Request for Taxpayer Identification Number and Certification.
Circle your child's name and his Social Security number on the form. Submit the corrected form to the financial institution that issued the incorrect statement. Instruct them to correct the information on the account and reissue you a corrected tax information statement.
Circle your child's name and his Social Security number on the form. Submit the corrected form to the financial institution that issued the incorrect statement. Instruct them to correct the information on the account and reissue you a corrected tax information statement.
Social Security - 2012 COLA Increase
Asked Thursday, October 19, 2000 by an anonymous user
There was be no COLA in 2011. Monthly Social Security and Supplemental Security Income (SSI) benefits for more than 60 million Americans will increase 3.6 percent in 2012.
The 3.6 percent cost-of-living adjustment (COLA) will begin with benefits that nearly 55 million Social Security beneficiaries receive in January 2012.
Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2011.
According to officials, the average monthly check for the elderly will increase $43 to $1,229. For the disabled, it will rise $39 to $1,111.
The 3.6 percent cost-of-living adjustment (COLA) will begin with benefits that nearly 55 million Social Security beneficiaries receive in January 2012.
Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2011.
According to officials, the average monthly check for the elderly will increase $43 to $1,229. For the disabled, it will rise $39 to $1,111.
Social Security - Early Receipt Choice
Asked Sunday, October 01, 2000 by an anonymous user
You will take a permanent monthly reduction in benefits if you begin collecting Social Security before full retirement (ages 62-67 depending on your date of birth).
You can go to the SSA website and read the "Retirement Information For Medicare Beneficiaries" fact sheet, or use the SSA Retirement Estimator to see how different retirement dates will affect your benefit amount and also find other information you can use to help you decide when to start your benefits in the "Near Retirement" section of the Retirement Planner.
The SSA website is http://www.ssa.gov
You can go to the SSA website and read the "Retirement Information For Medicare Beneficiaries" fact sheet, or use the SSA Retirement Estimator to see how different retirement dates will affect your benefit amount and also find other information you can use to help you decide when to start your benefits in the "Near Retirement" section of the Retirement Planner.
The SSA website is http://www.ssa.gov
Social Security - Switching
Asked Sunday, October 01, 2000 by an anonymous user
You can collect reduced benefits based upon your spouse's earnings record today and switch them to your work record when you reach full retirement age. This could increase your monthly check, but it may not. The benefits you receive depends upon your work history.