Circuit Breaker Tax Credit = Free Money!!
March 23, 2011
It’s that time of year again, time to do your taxes. Even if you don’t file taxes, be sure to check the math on this one: The Circuit Breaker Tax Credit helps Massachusetts senior homeowners whose real estate taxes, sewer, and water bills combined consumed more than 10% of their total income. The state helps renters whose water, sewer, and 25% of the rent combined totaled more than 10% of their income.
If you typically file taxes, be sure to remind your preparer to check your eligibility for the Circuit Breaker Tax Credit. And if you weren’t planning to file taxes? The state will actually mail you a check in the amount of the Circuit Breaker – you simply need to file a one-page form with the Massachusetts Department of Revenue (that’s the state equivalent of the IRS).
If you need help filing for the Circuit Breaker Tax Credit, here’s more good news – each year, AARP trains volunteers who help seniors with their tax preparation. Call your local senior center to make an appointment with an AARP volunteer. Spots fill up fast – call soon.