Publication 915 - Social Security And Equivalent Railroad Retirement Benefits - Internal Revenue Service - 2001 Page 2
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28Legislation in 2000 removed the “earnings test”
575
Pension and Annuity Income
!
for social security recipients who work and are
590
Individual Retirement Arrangements (IRAs)
ages 65 through 70. This change has no effect on
CAUTION
the federal income tax rules for social security benefits.
Forms (and Instructions)
1040 –ES
Estimated Tax for Individuals
What is covered in this publication. This publication
covers the following topics:
SSA–1099
Social Security Benefit Statement
•
Whether any of your benefits are taxable,
SSA–1042S
Social Security Benefit Statement
•
How much is taxable,
RRB–1099
Payments by the Railroad Retirement
•
Board
How to report taxable benefits,
•
RRB–1042S
Payments by the Railroad Retire-
How to treat lump-sum benefit payments, and
ment Board
•
Deductions related to your benefits, including a de-
W –4V
Voluntary Withholding Request
duction you can claim if your repayments are more
than your gross benefits.
See How To Get Tax Help near the end of this publica-
tion for information about getting these publications and
The Appendix at the end of this publication explains items
shown on your Forms SSA – 1099, SSA – 1042S,
forms.
RRB – 1099, or RRB–1042S.
What is not covered in this publication. This publica-
Are Any of Your
tion does not cover the tax rules for the following railroad
Benefits Taxable?
retirement benefits:
•
Non-social security equivalent benefit (NSSEB) por-
To find out whether any of your benefits are taxable,
tion of tier 1 benefits,
compare the base amount (explained later) for your filing
•
Tier 2 benefits,
status with the total of:
•
Vested dual benefits, and
1) One-half of your benefits, plus
•
Supplemental annuity benefits.
2) All your other income, including tax-exempt interest.
For information on these taxable pension benefits, see
When making this comparison, do not reduce your other
Publication 575, Pension and Annuity Income.
income by any exclusions for:
This publication also does not cover the tax rules for
•
Interest from qualified U.S. savings bonds,
foreign social security or railroad retirement benefits.
These benefits are taxable as annuities, unless they are
•
Employer-provided adoption benefits,
exempt from U.S. tax under a treaty.
•
Foreign earned income or foreign housing, or
Comments and suggestions. We welcome your com-
•
Income earned in American Samoa or Puerto Rico
ments about this publication and your suggestions for
by bona fide residents.
future editions.
You can e-mail us while visiting our web site at
The RRB issues Form RRB–1099 and Form
You can write to us at the following address:
TIP
RRB–1042S. The SSA issues Form SSA–1099
and Form SSA–1042S. These forms (tax state-
Internal Revenue Service
ments) report the amounts paid and repaid, and taxes
Technical Publications Branch
withheld for a tax year. You may receive more than one of
W:CAR:MP:FP:P
these forms for the same tax year. You should add the
1111 Constitution Ave. NW
amounts shown on all forms you receive from the SSA
Washington, DC 20224
and/or RRB for the same tax year to determine the “total”
amounts paid and repaid, and taxes withheld for that tax
We respond to many letters by telephone. Therefore, it
year. See Appendix, at the end of this publication for more
would be helpful if you would include your daytime phone
information.
number, including the area code, in your correspondence.
Each original Form RRB–1099 is valid unless it has
been corrected. The RRB will issue a corrected Form
Useful Items
RRB–1099 if there is an error in the original. A corrected
You may want to see:
Form RRB–1099 is indicated as “CORRECTED” and re-
places the corresponding original Form RRB–1099. You
Publication
must use the latest corrected Form RRB –1099 you re-
505
Tax Withholding and Estimated Tax
ceived and any original Form RRB–1099 that the RRB has
Page 2
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