1 Premiums for medigap supplemental insurance. 2  The amount you pay out of pocket for deductibles and copayments or coinsurance for Medicare Parts A, B and D services. 3  The amount you pay out of pocket for prescription drugs in the Part D doughnut hole.
If you are not receiving benefits, and you do not pay the amount back, we can recover the overpayment from your federal income tax refund or from your wages if you are working. Also, we can recover overpayments from future SSI or Social Security benefits.We also will report the delinquency to credit bureaus.f you agree that you have been paid too. much and that the overpayment amount is. correct, you have options for repaying it. If you are receiving Social Security benefits, we will withhold the full amount of your. benefit each month, unless you ask for a lesser. withholding amount and we approve your. request.
Your Social Security income is almost never taxable and you may not need to file a tax return (your benefits would have to be unusually generous for the income to be taxable). If your total income is more than the base amount, you might owe some tax on your Social Security benefits. 2  You can use the worksheet in the Form 1040 Instructions, or the efile.com tax preparation software, to find out exactly how much of your Social Security income is taxable.