Senior Circuit Breaker Tax Credit

Senator Ross and Representative Poirier Announce Senior Circuit

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RICHARD ROSS

Breaker Tax Credit Seminar????

Attleboro ??? Senator Richard Ross (R-Wrentham) and Representative Betty Poirier (R-North Attleboro) are pleased to announce that they are hosting an informational seminar on the Senior Circuit Breaker Tax Credit at the Attleboro Senior Center (25 South Main Street) on Friday, March 10th at 11:30am.

They will be joined by Brian Lynch of the Massachusetts Department of?? Revenue. This event is open to all. ???With tax season approaching, the Senior Circuit Breaker Tax Credit can offer a substantial amount of relief and assistance to seniors in need,??? said Senator Ross.

???Every year we host these seminars because many of our constituents are unaware of the potential savings available to them. I encourage all of my constituents who are eligible to attend this information session and learn how they can benefit from this essential program.???

Representative Poirier stated, ???This is a wonderful opportunity provided to our seniors by the Commonwealth to assist them in obtaining a tax break. This is a well-deserved benefit for our eligible seniors and I encourage you all to please consider taking advantage of this tax credit.???

The Senior Circuit Breaker is a tax credit for senior citizens whose property payments account for more than 10% of their annual income. Eligible seniors will receive a dollar credit on their Massachusetts tax return for every dollar that their total property tax, water, and sewer bills exceed 10% of their income. A maximum of $1070 credit is available.

Additionally, if the taxpayer has not claimed the tax credit in the past, (s)he may claim it for the previous three years.???

To be eligible, taxpayers, aged 65 years or older, must own or rent their residence in Massachusetts, and have an annual income of: $57,000 or less for a single filer; $71,000 or less for a head of household; and $86,000 or less for joint filers.

If a taxpayer???s property is assessed at $720,000, (s)he is not eligible for the tax credit.

In 2015 the Circuit Breaker Tax Credit provided $74 million in credits to nearly 85,000 taxpayers.

Please contact the office of Senator Ross with any questions or concerns at (617) 722-1555 or Richard.Ross@masenate.gov