Below is an announcement from the Wilmington Senior Center from its latest newsletter:
The Wilmington Senior Center is holding an information session on the Circuit Breaker Tax Credit on Wednesday, February 12, 2020 at 1pm. Brian Lynch, of the Massachusetts Department of Revenue (DOR), will be joining us to speak on how eligible residents age 65 and older could qualify for a tax credit of $1,130 on their 2019 State Taxes.
Please call the Center at 978-657-7595 to sign up for this event.
The Circuit Breaker Tax Credit
The Circuit Breaker is a property tax credit that was designed by the Legislature with the hope of alleviating some of the burdens that property taxes create.
Who is Eligible?
Taxpayers who are Massachusetts residents, age 65 or older by December 31, 2019 (for joint filers, it is sufficient if one taxpayer is 65 years of age or older).
Taxpayers must own or rent residential property in Massachusetts and occupy the property as their primary residence.
Taxpayers must have an annual income of $60,000 or less for a single filer, $75,000 or less for a head of household, and $90,000 or less for joint filers. How to Apply?
You must file a Massachusetts State Income Tax return and include Schedule CB, the Circuit Breaker Credit form.
How much is the tax credit? $1,130.00 for Tax Year 2019.
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