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

Tax season It's revenue enhancement season again. Information technology'south important to read this web log fifty-fifty if your earnings or benefits don't require you to file a federal taxation render. You may be entitled to special taxation credits that tin can mean extra greenbacks to help you with expenses. These revenue enhancement credits are available even if yous receive Supplemental Security Income (SSI) and don't commonly file a revenue enhancement return.

The Kid Tax Credit

What is the Kid Revenue enhancement Credit (CTC)?

The CTC is a tax do good, expanded in March 2021, that helps families who are raising children. You can merits the CTC for whatsoever qualifying child even if you don't usually file a federal tax return. You can get up to $3,600 per qualifying kid under age vi, and up to $3,000 for each qualifying child historic period 6 – 17. These ages are adamant equally of Dec 31, 2021.

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

Yeah, if yous encounter the qualifying rules of the CTC. You tin claim this credit from the Internal Revenue Service (IRS) based on each of your qualifying children, even if y'all go Social Security or SSI and don't normally file a tax return. You also may have received up to half of your credit through accelerate monthly CTC payments made by the IRS from July to December 2021. For more data well-nigh accelerate monthly CTC payments, yous can visit ChildTaxCredit.gov and the IRS 2021 CTC and Accelerate CTC Payments Oftentimes Asked Questions.

Will advance monthly CTC payments, or whatever CTC I merits on my tax render, reduce my Social Security or SSI benefits?

Accelerate monthly CTC payments, equally well as whatsoever CTC that you merits on your 2021 tax return, won't reduce your Social Security benefits.

If you receive SSI, we won't count the CTC (or whatever advance monthly payments you might take received during 2021) every bit income or resources for 12 months later on you receive it when considering your eligibility for SSI and monthly SSI payment amount. If you received any advance monthly CTC payments, be aware of when you received them. You lot can get that information from the IRS Child Tax Credit Update Portal.

How practice I claim the CTC?

You tin can merits the CTC when you file your federal tax render for 2021. Y'all can visit ChildTaxCredit.gov for options to file a federal taxation return for gratis.

What if I have questions about the CTC?

Delight visit ChildTaxCredit.gov and read IRS Filing Flavor 2021 CTC Questions and Answers if you have questions. Social Security can't answer CTC questions.

The Earned Income Tax Credit

What is the Earned Income Revenue enhancement Credit (EITC)?

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

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

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

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

Larn if your disability payments count equally earned income for the EITC at the IRS' Disability and the Earned Income Tax Credit webpage.

How do I claim the EITC?

To claim the EITC, you must authorize and file a federal tax return. You can visit ChildTaxCredit.gov for options to file a federal tax return for free.

What if I have questions about the EITC?

Learn more almost the EITC, including basic qualifications, at the IRS' Earned Income Revenue enhancement Credit webpage. Social Security can't answer EITC questions.

Your Annual Social Security Benefit Statement

What is the Do good Statement and what practise I do with it?

Your Benefit Statement is a revenue enhancement grade from Social Security that shows the total corporeality of Social Security benefits you lot received in the previous yr. It's also referred to as an SSA-1099. Noncitizens who live exterior of the United States receive the SSA-1042S instead of the SSA-1099. Yous should written report the amount of Social Security income y'all received to the IRS on your federal tax return.

The Do good Statement isn't bachelor for people who only receive SSI payments considering SSI payments aren't taxed.

How do I get my annual benefit statement?

If you lot receive Social Security benefits, we mailed your Benefit Statement to your address on file with u.s.. If you didn't receive it, or if lost, you can become your SSA-1099 or SSA-1042S instantly online with a my Social Security account.

Remember to Bank check your Earnings History

If you don't receive Social Security benefits, this is a great time to review your earnings history by looking at your Social Security Statement (Argument). It's of import because your future Social Security benefits will exist based on your earnings history nosotros received from the IRS. Underreported earnings volition mean lower monthly benefit payments when you are ready to outset receiving them.

Use your Statement to review your earnings history and to see personalized benefit estimates so you can plan for your future.

Tax season doesn't have to be a stressful fourth dimension of year. And for many people, it's an opportunity to claim additional money. Thanks to the American Rescue Programme, more Americans can claim larger Child Tax Credits and Earned Income Tax Credits for 2021.

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

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