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1/25/2018 7:38:29 AM
Posted: 10/5/2002 7:56:19 PM EST
Anyone know? Can't seem to find it online. Figured someone here must know.
Link Posted: 10/5/2002 7:58:46 PM EST
Link Posted: 10/5/2002 8:04:04 PM EST
Sometime in the 1970's, I think. I may have that somewhere... The Social Security Act was passed in 1932 as a Depression stopgap measure for keeping oldsters going. It originally had a planned life of only 5 years, and the number is not meant to be used as an identifier (still isn't.) I need to look into the extension dates for the SSA, as I'm still wondering about the history of it all... FFZ
Link Posted: 10/5/2002 8:23:47 PM EST
Try this: [url]www.ssa.gov/history/it3447.html[/url]
Since a pair of 1938 Treasury Department Tax Rulings, and another in 1941, Social Security benefits have been explicitly excluded from federal income taxation. (A revision was issued in 1970, but it made no changes in the existing policy.) There are three separate Treasury Rulings, two from 1938 and one from 1941. During the years 1937-1939 two types of Social Security benefit were paid: Lump-sum retirement payments to retired workers, and lump-sum death benefits to the family of deceased workers. So there are two 1938 tax rulings, one covering lump-sum retirement payments and one covering lump-sum death payments. In 1939 the Social Security Act was amended and dramatically expanded to include survivors and dependents benefits of various types. Therefore, in a 1941 ruling, the Treasury Department explicitly extended its earlier rulings to these new types of benefits. In 1970, the prior rulings were reaffirmed.
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More in the link. From the link, it appears that Social Security benefits are not Federally taxed as income. Apparently they are taxed by some states as income. Anybody got more information?
Link Posted: 10/5/2002 8:32:02 PM EST
I know that clinton and the democrats raised the tax on social security benefits in 1993, so they are taxed. I've read that the democrats were the first ones to institute a tax on benefits, but I can't find a date for that.
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