You can also request that the IRS withhold money for taxes from your Social Security checks up front. This would save you the trouble of having to do the math to figure out how much you might owe. If it withholds too much from your checks, you'd get the extra back as a refund when you file your tax return.

If you're currently receiving or soon will be receiving Social Security retirement benefits, here's what to know about which states may tax you.

Key Points Many people are surprised to learn that Social Security benefits can be taxed. Whether you’ll be subject to taxes depends on your income. It’s important to plan for Social Security taxes so your retirement finances aren’t thrown off.