You May Qualify For Circuit Breaker Tax Credit

It's tax season and who doesn't want to save money? If you're 65 or older you may be able to save through The Circuit Breaker Tax Credit.

The Circuit Breaker Tax Credit provides up to $ 960 in tax relief under the law that allows certain Massachusetts homeowners and tenants, age 65 or older, to claim a refundable credit on their 200 9 state return. Homeowners may be qualified if their real estate taxes and 50% of their water/sewer charges exceed 10% of their income. Renters may be qualified if 25% of their rent exceeds 10% of their income. Qualifying taxpayers are eligible even if they do not pay or owe any state income taxes.