Hi... I an getting reg SS... 1,700 a month.. I am still working... I am 63... I made about 30,000 this year so I do know that I have to pay back 1/2 of about ,16,000 which is about 8,000... because I went over my limit of 14,160... question... when I do my taxs and pay tax on the full SS of 20,400... is the IRS concerened about the pay back that I have to do with SS... because I made 30,000..?. hope you understand the Q... than you so much if you can help... richard
Or do I just do the pay back of about 8,000 th SS nx year?
They may just hold back the 8,000 from my payments... which is OK...

A part of your social security benefits may be taxable if half of the SS benefits plus your other income exceeds the base amount. The base amount is $25,000 for single, head of household, married filing separately who did not live with the spouse in the year, and it is $32,000 for married filing jointly. For married filing separately who lived with the spouse any time in the year, the base amount is $0.

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Originally Posted by tableclocks

hi...i an getting reg SS...1,700 a month..i am still working...i am 63...i made about 30,000 this year so i do know that i have to pay back 1/2 of about ,16,000 which is about 8,000....because i went over my limit of 14,160....question....when i do my taxs and pay tax on the full SS of 20,400...is the IRS concerened about the pay back that i have to do with SS....because i made 30,000...??..hope you understand the Q.....than you so much if you can help....richard
or do i just do the pay back of about 8,000 th SS nx year?
they may just hold back the 8,000 from my payments ...which is ok....

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Does the IRS care if I make over the 14,160 linit because I get over 20,000 in SS... or do I just pay back the excess to the SS which is about 8,000 because I made about 30,000 which is about 16,000 over my linit... do I have any concerns with the IRS? Or just pay on the part nessary of the 30,000

I believe that the Social Security Administration (SSA) will cut back on your 2011 monthly payments based on the information provided by your 2010 tax return.

A call to the SSA will confirm or deny this.