Social Security Taxes: How Much Do Recipients Really Pay?

Key Points Depending on your age and income, your Social Security benefits may not be taxed. Regardless of income, the IRS will never tax more than 85% of your benefits. Based on where you live, you may also face state taxes on benefits. The $23,760 Social Security bonus most retirees completely overlook › If you've spent decades having money taken out of your paycheck to cover Social Security tax, it might seem odd that the government wants you to pay taxes on your benefits. However, Uncle Sam i ...