Social Security

By Kemp Baratier

March 21, 2008 04:00 am

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Question: I got Social Security benefits last year and wasn't planning to file a tax return. But I heard that I may want to file a tax return to get the "stimulus payment" offered by the government. Should I?

Answer: Yes. If you received Social Security benefits last year, you may be entitled to an economic stimulus payment, or tax rebate, from the federal government "" even if you otherwise wouldn't plan on filing a tax return. The IRS will begin sending stimulus payments to more than 130 million taxpayers in May. If you have filed or plan to file a 2007 tax return, no other action is necessary.

If you receive Social Security and did not file a 2006 tax return, the IRS will send you a package, which includes everything you need to file a 2007 return and receive a stimulus payment. In this situation, if you no longer have your form 1099, you do not need a replacement form. Instead, simply estimate your total annual benefit on your 2007 tax return. For more information, visit the IRS website at www.irs.gov.

Q: What should I do to protect my Social Security card from fraud or theft?

A: The best solution to prevent theft from happening is to keep your Social Security card in a safe place. Never carry it with you unless you know it will be required, such as at a job interview. If you want to safeguard your Social Security card and number, you can take these steps:

Visit the Federal Trade Commission's identity theft page at www.ftc.gov/bcp/edu/microsites/idtheft;

Educate yourself about identity theft;

Monitor your credit reports; and

Read "Identity Theft And Your Social Security Number" at

www.socialsecurity.gov/pubs/10064.html.

For more information, visit our website at www.socialsecurity.gov or call us at (800) 772-1213 (TTY (800) 325-0778).

Q: How does Social Security calculate how much I get every month?

A: In short, we use your average lifetime earnings, not just several years of earnings, to determine your benefit amount. The benefit formula is complex and there are no simple tables we can present that will tell you exactly how much you will receive. However, we can give you a fairly accurate idea "" and we do, each year.

Your Social Security Statement is automatically mailed to you about three months before your birthday. If you can't find your last one and you need one now for planning purposes, you can request it online at www.socialsecurity.gov/mystatement. Your statement provides a detailed report of your lifetime earnings and an estimate of retirement, disability and dependent benefits.

For more information, visit our website at www.socialsecurity.gov or call us call us at (800) 772-1213 (TTY (800) 325-0778).

Kemp Baratier is district manager for the Social Security Administration in Oneonta.