Understanding Your Tax Credit Benefits during Tax Season

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Mar 9, 2022 | Sara Khaki

Tax season can be a long and complicated process. Even if your are not required to submit tax returns because of the types of government benefits you’re receiving, you may be entitled to additional tax credits this season. Below are three tax credit benefits you may be eligible for even if you are receiving Supplemental Security Income (SSI) and do not have to file a tax return.

Child Tax Credits and SSI Benefits

The Child Tax Credit (CTC) is given to families with children to reimburse some of the costs associated with childrearing. Parents can receive as much as $3,600 for every child under six and up to $3,000 for every child between the ages of 6 and 17. Your eligibility for this tax credit depends only on whether you have children in the qualifying age range.

Receiving this benefit will not lower your SSI benefits for a period of 12 months, meaning the SSA will only count any remaining funds earned from tax credits after one year. You may have already received some of this credit in the form of advance monthly payments from July to December 2021. For more information about this topic, we encourage you to visit ChildTaxCredit.gov.

The Earned Income Tax Credit

The Earned Income Tax Credit (EITC) is a tax break for workers and families earning low- to middle-class income. Because SSI is a needs-based benefit program for individuals and families with limited means, it is possible that you qualify for this tax credit. The credit amount you receive will depend on your income level and the number of qualifying children in your home. Fortunately, your monthly SSI payments will not be counted against your eligibility for EITC or the credit amount.

Ask Our Attorneys any Questions You Have

SSI benefits can be invaluable to an individual or family’s financial security. It is essential to be up to date on all your earnings, as they will determine your future SSI benefits. If earnings go unreported, you may have lower monthly benefits in the future. Use this link to check your Social Security Statement.

The Khaki Law Firm can help you better understand your SSI benefits and tax returns. For more information on this topic, contact our Social Security disability law firm.


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