We are early into 2018 and the beginning of a new year, through mid-April, always means one thing – tax time. By early February many Americans are gathering their tax documents from the previous year, and those who received Social Security benefits in 2017, should be on the lookout for form SSA-1099.
This form shows the total amount of benefits someone receives from Social Security the previous year, and provides the beneficiary the knowledge of how much Social Security income to report to the IRS on their tax return.
Non citizens, who live abroad, who either received or repaid Social Security benefits the previous year, will not receive a 1099, but rather form SSA-1042S. Considering we are nearing the end of February, everyone who is supposed to receive a 1099 or 1042S, should have already received them. If you need a replacement tax form you can open a free my Social Security account here. You may also obtain a copy of a tax document by visiting your local Social Security office, you can locate your local Social Security office here, or you may contact Social Security’s national toll-free number at 1-800-772-1213.
A Record Of Your Earnings
Social Security keeps track of everyone’s earnings. Your employer reports these earnings to Social Security and the Social Security taxes you pay are dependent upon these earnings. Additionally, your earnings, how much and the duration of those earnings, determine what your monthly Social Security benefit would be if you retire or become disabled. Once again, opening a free my Social Security account is the easiest way to get an estimate of your future Social Security benefits, but Social Security also sends out paper statements to people who don’t have a my Social Security account. If you contact Social Security and request a paper statement, be prepared to wait between four to six weeks for it to arrive.
