text: Depending on what other income you have besides your social security, you might owe income tax on part of your social security payment, on up to 85% of it.  Whatever part is taxable, if any, is treated for tax calculation just like any other income.  If you're going to owe tax on your social security payments, you should either have taxes taken out, have extra tax taken out of some other income that you have, or make quarterly estimated payments.  If you wait until you file your return, you risk interest and penalties for underpayment.