The IRS Is Watching Your Social Security — Do These 5 Things Before June 30 | Kevin Retiers

Описание: The IRS Is Watching Your Social Security Do These 5 Things Before June 30 or You Will Owe More Than You Think | Kevin Retiers

A retired nurse in Ohio received a letter from the IRS last spring. She had been collecting Social Security for three years. Never missed a payment. Never had a tax problem in her life. The letter said she owed four thousand two hundred dollars in unpaid taxes plus interest and a penalty had already started accumulating.

Your IRA and Roth Withdrawal Strategy — every dollar from a traditional IRA adds to your combined income and pushes more Social Security into the taxable range. Roth withdrawals do not. Qualified Charitable Distributions up to $105,000 for age 70½+ skip your AGI entirely. Timing your withdrawals correctly can legally reduce or eliminate the tax on your benefits.

The IRS estimated tax deadlines are April 15, June 15, September 15, and January 15. Missing the June 15th payment when you owe taxes on Social Security income triggers an underpayment penalty at the current rate of 8% annually. It is completely avoidable if you know it is coming.
When you were working, your employer withheld taxes automatically. In retirement, that system stops working unless you rebuild it yourself. Most retirees do not find out it stopped until April.

SOURCES:
IRS.gov — Publication 915, Social Security and Equivalent Railroad Retirement Benefits
IRS.gov — Form W-4V, Voluntary Withholding Request (Rev. January 2026)
IRS.gov — Estimated Taxes, Publication 505
Kiplinger — Withholding Tax From Social Security Benefits: What to Know for 2026
SSA.gov — How to Request Withholding of Federal Taxes
Center for Retirement Research at Boston College — New Tax Break for Seniors, January 2026
GOBankingRates — Filing 2025 Taxes: Here's the Social Security Threshold To Watch For in 2026
Mercer Advisors — Is Social Security Taxed in 2026? What Retirees Need To Know

DISCLAIMER: This video is for educational purposes only and does not constitute tax, legal, or financial advice. Consult a qualified tax professional for your specific situation. Tax thresholds, deduction amounts, and penalty rates are subject to change. Verify current figures with IRS.gov or a licensed tax professional before acting.

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