Donald Trump’s plan to end taxes on Social Security will benefit this 1 group of Americans the most, report finds — are you part of it? Social Security serves as a key income

Social Security benefits are handled differently than regular income by the IRS, which can make tax season tricky.

If you wind up with an outstanding balance, you can either pay the IRS a lump sum or agree to a payment plan that allows you to spread the costs over several months. Keep in mind that even on a payment plan, you'll still face a 0.5% monthly failure-to-pay penalty, up to a maximum of 25% of your outstanding balance.

Retirement account withdrawals and earnings from a job may not be the only taxable income you have, either. The federal government taxes seniors' Social Security benefits if their income exceeds certain thresholds. If you live in one of the following nine states, you could owe some state Social Security benefit taxes as well.

Eliminating taxes on Social Security benefits would provide current beneficiaries with thousands more dollars but could cause younger generations to lose thousands in benefits.

If you're trying to collect Social Security benefits, it's important to know how your tax debt could impact that.

What you want to do is get ahead of the problem. First, pay as much as you can upfront, even if it's not the full amount. This will reduce your outstanding balance, which will be subject to a 0.5% monthly failure-to-pay penalty, up to a maximum of 25% of the unpaid amount.

A Utah Senate committee voted Monday to approve a bill that would end state taxes on Social Security benefits in Utah.

Retirees in nine states could end up owing money from their Social Security benefits during tax time. Is Ohio on the list? Here's what to know.

Losing your Social Security card won’t affect your benefits, but it poses an identity theft risk. Request a replacement and monitor your credit for fraud.