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The 2022 COLA increases have been applied to new Social Security payments for J anuary, and the first checks have already started to hit bank accounts. See: What To Expect From Social Security in 2022
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You can also have federal tax automatically withheld from your Social Security benefits by filling out Form W-4V or calling the IRS toll-free number at 800-829-3676.
Form 1099 is also used to report interest (1099-INT), dividends (1099-DIV), sales proceeds (1099-B) and some kinds of miscellaneous income (1099-MISC). Blank 1099 forms and the related instructions can be downloaded from the IRS website. The following table provides information for each variant.
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