Did you know that our special tax benefits for people aged 65 and older? It is important to understand how your age and sources of income affect your tax return to ensure you get the biggest refund you are entitled to or to reduce the amount you may owe. If you are 65 or older, you're entitled to a larger standard deduction. Also, if you do not itemize deductions but you do pay real estate taxes, you can increase your standard deduction. If you were one of the four million seniors who did not file a tax return last year to receive a stimulus payment, you still have time to file and receive your payment. Another important consideration for seniors this year is a zero percent tax rate on capital gain. Did you know that if you are over age 70 and a half, you are required to take distributions from your IRAs and your pension plans? You should also know that some of your Social Security benefits may be taxable, depending on many factors including your total income and filing status. Let Jackson Hewitt tax preparers help you understand the ever-changing world of taxes. Call 1-800-234-1040 or use the office locator on our website to find the Jackson Hewitt nearest you.
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Video instructions and help with filling out and completing What Form 8815 Taxpayers
