January 26, 2016

YOUR SOCIAL SECURITY Davenport, Iowa Office

Clayton-Powell,-LindaBy Linda Clayton-Powell
Social Security District Manager
Davenport, Iowa

SOCIAL SECURITY CELEBRATES BLACK HISTORY MONTH

Throughout the month of February, we celebrate Black History Month.  Created in 1926, this event coincides with the birthdays of Abraham Lincoln on February 12 and Frederick Douglass on February 14. African American communities have celebrated these birthdays together since the late 19th century.

Honoring our shared history and reflecting on the past is one way we unify as a nation.  We remember that we are all Americans — we believe in freedom and democracy for all.  Another shared belief is that we all deserve a comfortable retirement, free of economic hardship.

Social Security has retirement benefits and the tools to help you plan for your retirement and to apply for benefits online.  We also provide disability benefits to individuals with medical conditions that prevent them from working.  If the disabled individual has dependent family members, they can also receive payments.

If you or anyone you know is disabled, they may qualify for disability benefits. Studies show that a 20-year-old worker has a 1-in-4 chance of becoming disabled before reaching full retirement age.  You can see if you meet our strict definition of disabled and apply for disability benefits at www.socialsecurity.gov/disabilityssi/apply.html.

Widows, widowers, and their dependent children may be eligible for Social Security survivor’s benefits. Social Security helps by providing income for the families of workers who die.  In fact, 98 of every 100 children could get benefits if a working parent dies.  In addition, Social Security pays more benefits to children than any other federal program.  You can learn more about Social Security survivor’s benefits at www.socialsecurity.gov/survivors.

Honoring each other begins with fair and equal treatment.  Social Security guarantees that, if you pay into the system, you will have the same benefits as everyone else.  This Black History Month, we want to make sure our diverse nation is covered and that no one is left out of the benefits they deserve. Visit www.socialsecurity.gov to learn more.

YOUR SOCIAL SECURITY BENEFIT STATEMENT

It is that time of year again: time to start preparing to file your taxes.  If you receive Social Security benefits, one of the documents you will need when filing your federal income tax return is your Social Security Benefit Statement (Form SSA-1099).

Your Social Security benefits may be taxable.  This includes monthly retirement, survivor, and disability benefits.  About one-third of people receiving Social Security benefits must pay taxes on some of these benefits, depending on the amount of their taxable income.  This usually happens only if you have other substantial income — such as wages, self-employment, interest, dividends, and other taxable income that must be reported on your tax return — in addition to your Social Security benefits.  You will never have to pay taxes on more than 85 percent of your Social Security benefits, based on Internal Revenue Service (IRS) rules.

To find out if you must pay taxes on your benefits, you will need your Social Security Benefit Statement (Form SSA-1099).  You should automatically receive your 1099 form each January.  It shows the total amount of benefits you received from Social Security in the previous year so you know how much Social Security income to report to the IRS on your tax return.  The 1099 form is not available for people who receive Supplemental Security Income (SSI), as SSI payments are not taxable.

Whether you file your taxes early or wait until the deadline, Social Security makes it easy to obtain a replacement 1099 form if you did not receive one or misplaced yours.  You can get an instant replacement quickly and easily by using your secure online my Social Security account.  If you do not already have an account, you can create one in minutes.  Follow the link to the my Social Security page, and go to “Sign In” or “Create an Account.”  Once you are logged in, select the “Replacement Documents” tab to obtain your replacement 1099 form.  If you create a my Social Security account, you can also use it to keep track of your earnings each year, manage your benefits, and more.

You can also obtain a replacement 1099 form by calling us at 1-800-772-1213 (TTY 1-800-325-0778), Monday through Friday from 7 a.m. to 7 p.m., or by contacting your local Social Security office.  If you live outside of the United States, please contact your nearest U.S. Embassy or Consulate.
With a my Social Security account, gathering your Social Security information for tax season has never been easier.  Open your own personal my Social Security account today at www.socialsecurity.gov/myaccount.

Filed Under: Finance, Retirement

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