April 15 is just around the corner. Hopefully, all of our readers have filed their income tax returns with the IRS, are ready to file now, or have filed for an extension if necessary.
The IRS considers many sources of funds as taxable income -- including most benefits provided by the Social Security Administration. This could have serious tax implications for households that receive Social Security Disability benefits (SSD). However, Supplemental Security Income payments, which are need-based disability benefits, are not taxed, according to the IRS.