You may have to pay federal taxes on your payments if your earnings exceed a certain amount. For individual tax returns, you’ll have to pay on at least 50% of your benefits if your annual pay is $25,000 to $34,000 (or up to 85% if you make more). Or, for joint filers, you’ll have to pay taxes if your income is between $32,000 and $44,000 each year (or up to 85% if you make more).