Low-income elderly credit must be claimed by July 2, 2012

June 18, 2012 – TaxTalk Blog

This time of year our thoughts typically turn to outdoor activities – mowing the lawn, weeding the garden, little Billy’s upcoming T-Ball game, maybe a vacation at your favorite beach.

So it’s not surprising that it would seem odd to be asking you to think about a credit refund right about now. But an important deadline is coming up.

Indiana has a refundable credit for low-income senior citizens, and it must be claimed by July 2, 2012.

Basically, if someone is age 65 or older, lived in Indiana for at least six months and has taxable income of less than $10,000, then he or she may be eligible for a Unified Tax Credit for the Elderly. While singles may qualify for a credit up to $100, those married who file jointly may get up to $140.

Now if the eligible senior has already filed a 2011 Indiana income tax return, then the credit has probably already been claimed. Look at line 4 on his or her Indiana Schedule 5 just to be sure. If the credit should have been taken and wasn’t, make sure to file (have postmarked) a corrected, or amended return no later than July 2, 2012.

But, if you know a senior citizen who doesn’t have to file a state tax return because his or her income is so low, you might want to do some investigating on his or her behalf. Get Form SC-40, Unified Tax Credit for the Elderly, for details. If the senior is eligible for a credit (refund), make sure the form is completed, signed and postmarked no later than July 2, 2012.

This is the time of year where most of us try to kick back a bit. Maybe have a swim, or fix some hot dogs and smores around a campfire (fire pits work well, too). The nice thing about filling out the Form SC-40 is it only takes about 10 minutes to complete, freeing up your time for fun activities. Just try to keep the barbeque sauce stains down to a minimum – and have a tall, ice-cold lemonade for me.

If you would like to submit a question or topic suggestions, please send them to feedback@dor.in.gov
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