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TaxRobin
TaxRobin, Tax Preparer
Category: Social Security
Satisfied Customers: 14075
Experience:  15+ years in tax preparation and instruction
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Received letter from SS wanting back $3502.00 for 1st year

Customer Question

Received letter from SS wanting back $3502.00 for 1st year because I made too much money that year? Drew 1st check in October 2015. Turned 62 in July 2015
Submitted: 3 months ago.
Category: Social Security
Expert:  TaxRobin replied 3 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  TaxRobin replied 3 months ago.

One dollar in benefits will be withheld for every $2 in earnings above the limit which was $15720 in 2015. If you did not continue to work in 2015 after you started drawing from SSA they can use a separate calculation.

Customer: replied 3 months ago.
OK, but I was told by SS per Publication 05-10069 ICN 467005 there was a special rule for the first year? see attached
Expert:  TaxRobin replied 3 months ago.

There is a special rule for the first year but that is a special rule that lets them pay a full Social Security check for any whole month SSA considers you retired.

You have to be under full retirement age for all of that first year, then you are considered retired in any month that your earnings are $1,310 or less and you did not perform substantial services in self employment.

That is also if you have already earned the $15720 prior to starting your SSA benefits.

Expert:  TaxRobin replied 3 months ago.

Sorry for the above delay in responding. I was only now shown you had responded.