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benefits planner: withholding income tax from your social security benefits. you can ask us to withhold federal taxes from your social security when you apply for benefits. … you can have 7%, 10%, 15% or 25% of your monthly benefit withheld for taxes. if you receive any government payment shown below, you may use form w-4v to ask the payer to withhold federal income tax. unemployment compensation (including railroad unemployment insurance act (ruia) payments). social security equivalent tier 1 railroad retirement benefits. social security benefits,; social security equivalent tier 1 railroad retirement form w-4, employee’s withholding allowance certificate. benefits planner: withholding income tax from your social security benefits. you can ask us to withhold federal taxes from your social security when you apply for benefits. you can have 7%, 10%, 15% or 25% of your monthly benefit withheld for taxes. if you get social security, you can ask us to withhold funds from your benefit and we will credit them toward your federal taxes.
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