how to find out what social security disability paid me for tax purposes

It'south tax season once again. It'due south of import to read this blog even if your earnings or benefits don't require yous to file a federal tax return. Y'all may be entitled to special taxation credits that tin hateful extra cash to help you with expenses. These revenue enhancement credits are available even if you receive Supplemental Security Income (SSI) and don't normally file a tax return.

The Child Taxation Credit

What is the Kid Tax Credit (CTC)?

The CTC is a taxation benefit, expanded in March 2021, that helps families who are raising children. You can merits the CTC for any qualifying kid even if you don't usually file a federal tax return. You tin become upwards to $three,600 per qualifying child under historic period vi, and up to $iii,000 for each qualifying child age six – 17. These ages are determined equally of December 31, 2021.

Am I eligible for the CTC if I get Social Security or SSI?

Yeah, if you meet the qualifying rules of the CTC. Yous can claim this credit from the Internal Revenue Service (IRS) based on each of your qualifying children, even if you lot get Social Security or SSI and don't normally file a tax return. You also may accept received up to one-half of your credit through advance monthly CTC payments fabricated past the IRS from July to Dec 2021. For more information nigh advance monthly CTC payments, yous can visit ChildTaxCredit.gov and the IRS 2021 CTC and Advance CTC Payments Oftentimes Asked Questions.

Will accelerate monthly CTC payments, or any CTC I claim on my tax render, reduce my Social Security or SSI benefits?

Advance monthly CTC payments, as well as any CTC that you claim on your 2021 revenue enhancement render, won't reduce your Social Security benefits.

If you receive SSI, we won't count the CTC (or any advance monthly payments you might take received during 2021) as income or resources for 12 months after you receive it when considering your eligibility for SSI and monthly SSI payment corporeality. If you received any advance monthly CTC payments, exist aware of when you received them. You lot can become that information from the IRS Kid Tax Credit Update Portal.

How practice I merits the CTC?

You lot can claim the CTC when you file your federal tax return for 2021. You can visit ChildTaxCredit.gov for options to file a federal tax render for complimentary.

What if I take questions nearly the CTC?

Please visit ChildTaxCredit.gov and read IRS Filing Flavor 2021 CTC Questions and Answers if y'all have questions. Social Security tin't answer CTC questions.

The Earned Income Tax Credit

What is the Earned Income Tax Credit (EITC)?

The EITC provides low- to moderate-income workers and families a tax interruption. If you qualify, you lot tin can use the credit to reduce the taxes yous owe – and maybe increase your refund. The EITC amount you might get generally depends on your earned income and the number of your qualifying children.

Am I eligible for the EITC if I get Social Security or SSI?

Yes, if y'all come across the qualifying rules of the EITC. Receiving Social Security or SSI doesn't touch on your eligibility for the EITC.

Do my Social Security Inability Insurance (SSDI) or SSI payments count as earned income for the EITC?

Learn if your disability payments count as earned income for the EITC at the IRS' Disability and the Earned Income Taxation Credit webpage.

How exercise I claim the EITC?

To claim the EITC, you must qualify and file a federal taxation return. You tin visit ChildTaxCredit.gov for options to file a federal tax render for free.

What if I have questions nearly the EITC?

Learn more than well-nigh the EITC, including basic qualifications, at the IRS' Earned Income Tax Credit webpage. Social Security can't reply EITC questions.

Your Annual Social Security Do good Argument

What is the Benefit Argument and what exercise I do with information technology?

Your Do good Argument is a revenue enhancement form from Social Security that shows the total amount of Social Security benefits you received in the previous twelvemonth. It'southward too referred to as an SSA-1099. Noncitizens who live outside of the United States receive the SSA-1042S instead of the SSA-1099. You should report the amount of Social Security income you received to the IRS on your federal taxation return.

The Benefit Statement isn't available for people who only receive SSI payments because SSI payments aren't taxed.

How practise I get my annual do good statement?

If you receive Social Security benefits, we mailed your Benefit Argument to your address on file with united states. If yous didn't receive it, or if lost, yous can get your SSA-1099 or SSA-1042S instantly online with a my Social Security account.

Recollect to Cheque your Earnings History

If you don't receive Social Security benefits, this is a great time to review your earnings history past looking at your Social Security Argument (Statement). It'southward of import considering your futurity Social Security benefits will be based on your earnings history we received from the IRS. Underreported earnings will hateful lower monthly benefit payments when you are ready to start receiving them.

Use your Statement to review your earnings history and to see personalized benefit estimates then you lot can program for your future.

Tax season doesn't accept to exist a stressful fourth dimension of twelvemonth. And for many people, it'due south an opportunity to merits additional coin. Thanks to the American Rescue Program, more than Americans can claim larger Child Tax Credits and Earned Income Tax Credits for 2021.

Please share this blog with family and friends and remember that Social Security is here to assist secure your today and tomorrow.

Tags: General Information, my Social Security, my Social Security business relationship, Social Security benefits

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Source: https://blog.ssa.gov/tax-season-what-to-know-if-you-get-social-security-or-supplemental-security-income/