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Archive for the "Taxable Income" Category

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Eligible for the Elderly Tax Credit?

IRS Elderly or Disabled= Are you 65 or older (or under 65 and disabled)? Are  you a US citizen?  Are you a Single filer with an  adjusted gross income (AGI) less than $17,500?  Is the nontaxable portion of your Social Security or other nontaxable pensions, annuities, or disability income under $5,000?  You need to file Schedule R for a tax credit of $750! Read IRS Publication 524, Credit for the Elderly or Disabled or call 1-800-829-3676 and ask to have a copy mailed to you.

Don’t forget the IRS Helpline – 1-800-829-1040 or your nearest IRS Taxpayer Assistance Center.

If you need help filing your tax return or have questions, call 1-800-906-9887 for an IRS sponsored Tax Counseling for the Elderly. You will be provided free tax preparation and counseling if you are 60 or older and a low to middle income taxpayer. These days, most of us qualify and can use the help!

Are you a Senior? Do you need to file?

You don’t have to file your federal tax return if your gross income IS:

  • For a Single person: less than $9,350 (over 64? less than $10,750)
  • For Married filing jointly: less than $18,700 (one of you over 64? less than $19,800; both of you over 64? less than $20,900)
  • For Head of Household: less than $12,000 (over 64? less than $13,400)
  • For Married filing separately: any age, less than $3,650
  • For Qualified Widow(er) with a dependent child: less than $15,500 (over 64? less than $16,150)

Don’t overlook your state tax requirements!   Use this link for state tax information.

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