What Is Senior Tax for the elderly and disabled?

For an elderly person aged 65 or more than that is eligible to take the tax credit or if you are retiring or disabled as well as have an income which has disabled tax. The amount of the income will be of course limited but still the person easily qualifies for the credit tax for the elderly and disabled. 

In this article, we will be getting to know about the credit for the elderly and disabled, how they are eligible for this deduction, what are the age requirements to get the credit tax and what will be the amount that the elderly and disabled people can get.

The qualifications required for claiming senior tax credit for a person who is aged 65 years and older

In order to be eligible for the credit for elderly and disabled, there are some rules. If a person is married, it is necessary that the spouse should also file for a credit for elderly and disabled. However, if the person is the head of the entire house and meets the specifications of some tests, then that person can also file the case on his behalf and get the credit for the disabled and elderly. 

Once the person is done with the filing and other procedures, the next step would then be to get the certification or approval of the physician which would state that since the person is ill, mentally weak, physically disabled, will not live for more than 6 or 12 months and any other physical condition. This certification would then be given for further procedure for the approval of credit for the elderly and disabled.

However, even if the person fulfills and meets all the requirements which are mentioned above, there is still a chance that he may not be eligible for credit for the elderly and disabled. The reason will be most probably this that the taxable income of the person will be more as listed in the requirement or the non taxable income will also be in excess. Due to these reasons, even if the person is 65 or more, ill, physically disabled, not expected to last for long, still he will not be eligible for the credit for elderly or disabled.

Tax payers who are not the residents of the country in which they are living, will only be eligible to claim the credit for the elderly and disabled if they have the nationality of the country in which they are living or else they are married to a citizen of that country. This is the only way that they will be eligible for the credit for the elderly and disabled.

Differences in ages of spouses

For instance, if one of the spouse is 65 or above but the other one is aged younger than 65 who gets the disability income. In such a case, for the spouse who is younger will get 7500 or else 5000 dollars along with the disability income he is already receiving. 

The amount of credit is reduced by the income from the annuities, benefits of disability as well as the pensions. If both the husband and the wife are aged 65 or above this age, are eligible for the credit for the disabled and elderly. However, you must keep in mind that they are only eligible if their income does not exceed the amount written in the law. They can then apply for the credit for the elderly and disabled. 

This process might take some time, so it is advised that elderly and disabled couples should be quick in applying for this in fact the ones who are mentally or physically ill should be quicker in applying for this law. 

Wrapping up

 So, we read about the credit for the elderly and disabled and how the couples can apply for it keeping in mind all the requirements it has. The person must be aged 65 or above than that and should qualify all the requirements in order to get the credit for the elderly and disabled. The income of the person must not exceed the amount written in the law or else he will not be eligible to get the credit for the elderly and disabled.