Millions of Americans file taxes each year, but many circumstances are different, so those surviving on Social Security are unsure of what to do.
If you collect Social Security benefits, your specific situation will determine taxes on your benefits.
What you receive and where you live are factors that go into whether you’ll pay taxes.
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When you might need to pay taxes on Social Security
If you’re married and your spouse makes money because they still work, that will likely boost your overall income requiring a tax return.
If you aren’t required to file a return, it could still be a good idea.
You may be able to claim certain credits that would bring you a refund.
One claim could be a $1,400 stimulus payment if you’re entitled to it and did not receive it.
If you take care of children, you could also be entitled to the $3,600 child tax credit.
If you earned below a certain threshold, you could be entitled to the Earned Income Tax Credit.
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