AARP Eye Center
I applied for benefits in July of 2023 but changed my mind and decided not to retire. I sent in all the paperwork to stop my benefits but I am still receiving payments. (As a side note, it has been 7 months and SS still has not completed this process. I have called on a regular basis every month and they keep telling me my withdrawal is still in process.) I understand I will need to pay back 100% of the net amount of what I have received. My question is will I receive a refund of the taxes withheld for 2023 and 2024 once social security has completed the withdrawal process? I had 20% tax withheld from each payment. I'm fairly certain I had to pay additional taxes outside of the 20% which left me with taxes owed to the IRS for 2023.
I am pretty sure any income tax refund for 2023 will have to be refunded from the IRS once you turn in your Tax Return for tax-year 2023. That year is over and already reported to the IRS.
This is the SSA’s Program Operation Manual (POMS) for a Withdrawal of benefits
SSA.gov POMS -GN 00206.005 Requirements for Withdrawal (WD) of a Benefit Application
Read over the part that applies to your situation and note anything that you haven’t done -
One thing that jumped out at me: [copy / paste from link]
The beneficiary who requests a WD of their benefit application must repay all benefits he or she received, before we approve the withdrawal request. This includes Medicare payments (i.e., Hospital Insurance (HI) expenses paid by CMS, and Supplementary Medical Insurance (SMI) premiums withheld by SSA) and voluntary tax withholding (VTW) for closed tax years.
NOTE: it says “BEFORE they approve the withdrawal request”
SMI = Medicare Part B premiums
You may or may not be getting your Medicare premiums deducted from your RIB benefit cause that depends on your age which you did not disclose in your OP.
Another point which may or may not affect you - is IF someone else is receiving benefits based your your record - these will also stop and
The POMS says: [again copied & pasted from the link]
All beneficiaries on the record whose entitlement is nullified by the NH's WD must provide consent in writing before we can approve the NH's request for WD . . . .
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