Your Social Security benefits are taxed (up to 80%) depending on your other income.You can use Form SSA-1099 to determine if your benefits are subject to tax and the tax rate. You can make estimated tax payments if you have to pay social security taxes.
By receiving your Social Security benefits before FRA — and continuing to work — you will have temporarily reduced benefits. When you reach full retirement age, the reduction reduces. Once you reach FRA, your benefits no longer reduce, regardless of how much you earn.