Tax Assistance for Senior Citizens
Tax Credit for the Elderly
Persons with low income, who are age 65 or over, or under 65 and retired on permanent and total disability may be eligible for a tax assistance program known as Tax Credit for the Elderly. You are a qualified individual for this credit if you:
- are age 65 or older, or under 65, retired on permanent and total disability and received taxable disability income
- are a U.S. resident or a resident at the end of the tax year
- have an adjusted gross income under specific limits or have a total of non-taxable Social Security, pensions annuities or disability income under specific limits
For further information, please consult IRS Publication 524, Credit for the Elderly or Disabled. This publication may be obtained by calling the IRS Publications/Forms toll-free telephone at 1.800.829.3676.
IRS Tax Counseling/Assistance
Through the Tax Counseling for the Elderly (TCE) program, IRS-trained volunteers assist individuals age 60 and over with their tax returns at various neighborhood locations. In addition, certain VITA (Volunteer Income Tax Assistance) aides have been trained to help older persons with their tax returns. Find a VITA site here.
Sale of Principal Place of Residence
Persons age 55 or older selling their principal place of residence may exclude from their gross income up to $250,000 for single filers or $500,000 for joint filers of the capital gain on a one-time basis, provided they owned and occupied the residence for two of the five years ending on the date of sale. IRS Form 2119 must be filed with the Internal Revenue Service the year in which the property is sold.
Senior Freeze (Property Tax Reimbursement)
Publication 554, is a tax guide that is specifically designed for seniors. It provides a general overview of selected topics that are of interest to older taxpayers.