This story is a part of Taxes 2023, CNET’s protection of the very best tax software program, tax suggestions and the whole lot else you might want to file your return and observe your refund.

Most People have lower than three weeks left earlier than earnings tax returns are due to the IRS, however not everybody has to file taxes. Should you obtained Social Safety advantages in 2022, you may not need to file a tax return this 12 months — that is determined by a couple of elements, although.

Your age, your marital standing and the way a lot earnings you earn outdoors of Social Safety advantages all have an effect on whether or not you might want to submit a tax return to the IRS. And even should you aren’t required to file, it may be a good suggestion if you wish to obtain refundable tax credit or a refund for earnings taxes you paid through the 12 months. 

For extra info on tax season, here is a proof of your Social Safety Profit Assertion and the greatest tax software program for submitting your return in 2023. 

How do I do know if my Social Safety advantages are taxable?

Your Social Safety advantages could also be taxable if one-half of your Social Safety advantages plus all your different earnings is larger than the bottom quantity of your submitting standing (the bottom quantity for figuring out tax legal responsibility) which is:

• $25,000 for single filers, head of family, or a qualifying surviving partner
• $25,000 for married folks submitting individually who lived aside from their partner in 2022
• $32,000 for married {couples} submitting collectively 
• $zero for married folks submitting individually who lived with their partner

Different types of earnings embrace wages, self-employment, curiosity, dividends and different reported taxable earnings. 

One technique to perceive whether or not your advantages are taxable is to contemplate gross earnings, your complete earnings earlier than taxes. 

You will have to file a return for the 2022 tax 12 months:

• In case you are an single senior at the least 65 years previous and your gross earnings is greater than $14,700. 
• In case you are submitting a joint return with a partner who can also be 65 or older and your gross earnings is greater than $28,700.
• In case you are submitting a joint return with a partner who’s underneath 65 years previous and your gross earnings is greater than $27,300.

One other technique to perceive whether or not your Social Safety advantages are taxable is to have a look at mixed earnings, which is your adjusted gross earnings + nontaxable curiosity + half of your Social Safety advantages. 

• In case you are a single tax filer and your mixed earnings is between $25,000 and $34,000, the SSA says you’ll have to pay earnings tax on as much as 50% of your advantages.
• In case you are a single tax filer and your mixed earnings is greater than $34,000, you’ll have to pay earnings tax on as much as 85% of your advantages. 
• In case you are submitting a joint return and your mixed earnings is between $32,000 and $44,000, you’ll have to pay earnings tax on as much as 50% of your advantages.
• In case you are submitting a joint return and your mixed earnings is greater than $44,000, you’ll have to pay earnings tax on as much as 85% of your advantages. 
• In case you are married submitting individually and did not stay together with your partner final 12 months, your Social Safety advantages are taxed as should you have been a single filer.
• In case you are married and submitting individually whereas dwelling together with your partner you in all probability must pay taxes in your advantages. 

On line 6b of Type 1040 or Type 1040-SR, you’ll report the taxable portion of your Social Safety advantages. 

Ought to I file a tax return even when I am not required to?

The most important motive to file a tax return even when you do not have to is to obtain a tax refund. 

Should you had federal tax earnings withheld out of your pay or should you made estimated tax funds in 2022, it’s possible you’ll wish to file a tax return this 12 months. You may obtain a tax refund of any surplus withholding. 

One other circumstance the place submitting is inspired is should you qualify for tax credit that give you refunds, together with the earned earnings tax credit score, the kid tax credit score or the kid and dependent care tax credit score. The earned earnings tax credit score is totally refundable, that means it goes towards your tax refund you probably have no tax legal responsibility.

How can I see my Social Safety profit quantity for 2022? 

The Social Safety Administration sends out a Social Safety Profit Assertion by mail or on-line in January together with your advantages from the earlier 12 months disclosed inside. The data within the assertion offers you with the earnings you’ll disclose in your tax return if you find yourself submitting one.

For extra info on Social Safety and tax season, here is a tax season cheat sheet and why you need to create a web-based IRS account previous to tax season’s arrival.

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