If yoy only receive social security benefits do still have to file a tax return or should you wait?
James M asked:
I filed for a return for 2006 because I worked part of the year. Can I still get a refund if only on social security in 2007?
Social Security Benefits
I filed for a return for 2006 because I worked part of the year. Can I still get a refund if only on social security in 2007?
Social Security Benefits
Social Security Benefits
No,sorry only earned income
Social Security Benefits
If Social Security is your only income it is not taxable. Since it’s not taxable there is no need to file. Unless you had income taxes withheld from your Social Security payments, there’s nothing to be refunded and no need to file.
Social Security Benefits
You have to file a tax return if your annual income is above a threshold specified by law for your situation. In some cases a portion of Social Security benefits may be subject to tax. It depends on the total income you have. If Social Security is your only income, you may not be subject to any income tax. Fill out the tax return and it will tell you if you owe anything.
Social Security Benefits
If social security is your only income, it isn’t taxable. The only way you could get a refund is if you had taxes withheld from your benefits check – then you could file and get it all back. I’m not sure why you’d want to do that, but it’s technically possible to do.