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PDtax
PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4093
Experience:  35 years tax and professional advice in all matters money
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I do not want to receive SS at this time. I am still working

Customer Question

I do not want to receive SS at this time. I am still working full time. I have filled out the forms to not receive it, but I recently received a deposit in my bank account for over $6000.00. I do not want to collect SS at this time. I am 66 years old and I don't want to pay taxes on this. Can you help me. I have tried unsuccessfully to contact them. If I go to the office there is at least a 4 hr. wait. Thank You De***** *****
Submitted: 4 months ago.
Category: Social Security
Expert:  PDtax replied 4 months ago.

Hi from Just Answer. I'mCustomer I can assist.

I was just reading up on this issue yesterday. It seems that social security defaults to claiming your benefits with a six month 'lookback' UNLESS YOU SPECIFICALLY TELL THEM NOT TO. There is an easy fix.

You will have to go to their office, but you simply tell them you do not want your benefits now. You are allowed to make that election, and return to them the money they paid you early. You can do this within the first 12 months of collecting your social security.

Returning the funds to them will fix the taxability, and return your acount to the way you want it.

I like to have folks call ahead for an early AM appointment, and get there before the office opens. It will cut your wait time down dramatically.

Thanks for asking at Just Answer. Please rate my assistance with positive feedback when we are finished. I'mCustomer