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I am 66 years old and still working. I am receiving social

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I am 66 years old...
I am 66 years old and still working. I am receiving social security each month. I pay $98.00 per month for Medicare. It is automatically taken out of my social security check. Since I am still working full time, my job also takes out FICA/MED twice a month in the amount of $66.00 per pay period. Should I still be paying FICA/MED.
Submitted: 8 years ago.Category: Tax
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Answered in 3 minutes by:
3/1/2009
Tax Professional: Merlo, Accountant replied 8 years ago
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Verified
Hello Vincent,

Yes, unfortunately you are still subject to social security and medicare taxes anytime that you earn wages, even though you are currently retired and drawing social security benefits.

The FICA taxes continue to apply to any earned income that you have from a job or from self employment. I happen to be in the same boat as you, and it's one law I would like to see changed myself.

If this was helpful please press the Accept button. Positive feedback is also appreciated.

Thank you.

Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad
Verified
Merlo and 87 other Tax Specialists are ready to help you
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Customer reply replied 8 years ago

 

THANK-YOU, AT LEAST I FINALLY GOT AN ANSWER. THANKS FOR THE HELP, $15.00 DOLLARS WELL SPENT. VINCE EARLAND

 

 

 

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Merlo
Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9,783
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Experience: 25+ years tax consulting. Specializing in returns for US citizens living abroad

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