No one in America wants to have a problem with the Internal Revenue Service (IRS), but it’s actually easy to commit the smallest mistake that could drive you to some call from the taxman. Now, if you’re a Social Security SSI benefits’ recipient, you better keep reading, because you’re not totally free of obligations.
Social Security’s Supplemental Security Income (SSI) is a federal program that provides monthly benefits to low-income individuals who are blind, disabled, or over the age of 65. SSI benefits are not taxable, but there are some circumstances in which SSI recipients may need to file a tax return.
What Kind of SSI Benefits Recipient Should Get Tax Return?
In general, SSI recipients do not need to file a tax return if their total income is below the IRS’s filing threshold. For single filers, the filing threshold for 2023 is $12,550. For married couples filing jointly, the filing threshold is $25,100.
However, there are some exceptions to this rule. SSI recipients who have other income, such as earned income, investment income, or non-taxable Social Security benefits, may need to file a tax return.
When to File a Tax Return While Claiming SSI Benefits
If you are an SSI recipient, and you think you may need to file a tax return, you should do so by April 15, 2024. You can file a tax return online, by mail, or by phone. If you need to file a tax return, you will need to include the following information on your return:
First, your name, address, and Social Security number, then, all the documents related to your SSI benefits. Also, any other income you received during the year, and any deductions or credits you are eligible for.
There are a number of tax credits that SSI recipients may be eligible for, including: The Earned Income Tax Credit (EITC), the Child Tax Credit, the American Opportunity Tax Credit (AOTC), and the Lifetime Learning Credit (LLC).
There are also a number of tax deductions that SSI recipients may be eligible for, including: medical expenses, state and local taxes, charitable contributions you our you and your spouse have done, and moving expenses.
How to Determine the Total SSI Money You Received in 2023?
The process varies based on whether you exclusively receive SSI or if you also get Social Security benefits. In the latter case, expect a letter from the Social Security Administration in January 2024, either delivered physically or available online, detailing the total funds received in 2023. To access this information online, ensure you’ve established a My Social Security account.
For those solely receiving SSI, as these payments are not subject to taxation, you won’t receive a letter automatically. In this case, you can contact the Social Security Administration at 1-800-772-1213 or visit your local Social Security office for personalized assistance.