Tax season continues and as statements are gathered, income is calculated, deductions are itemized and the annual question arises for Social Security beneficiaries, are my Social Security benefits taxable and by how much? History Of Social Security Franklin D. Roosevelt signed the Social Security Act on August 14, 1935. Collecting of the tax began in January 1937 and recipients received a lump sum payment in January 1937. Regular monthly distribution of benefits began in January 1940. Ernest … [Read more...] about Are Social Security Benefits Taxable?