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Seniors who fill out Form 1040SR must take the standard deduction. Remember that if you're 65 or over, you are entitled to an additional $1,300. For an individual, that would raise the standard deduction to $13,300 for the tax year 2019, the first year that you can use the form.

In 2018, the standard deduction for single filers is now $12,000 and $24,000 for those married filing jointly. Single filers over 65 can claim an additional $1,600, and married filers over 65 can claim an extra $2,600.

Also, the additional standard deduction for filers over age 65 will still be available. In 2018, the standard deduction for single filers is now $12,000 and $24,000 for those married filing jointly. Single filers over 65 can claim an additional $1,600, and married filers over 65 can claim an extra $2,600.

One of the most significant tax breaks available to seniors and retirees is the tax credit for the elderly and disabled. If you end up owing the IRS, this credit can wipe out some, if not all, of your tax liability. You must be age 65 or older as of the last day of the tax year to qualify.

Standard Deduction for Seniors - If you do not itemize your deductions, you can get a higher standard deduction amount if you and/or your spouse are 65 years old or older. You can get an even higher standard deduction amount if either you or your spouse is blind. (See Form 1040 and Form 1040A instructions.)

At 65, states sometimes cut you slack on property tax bills. If you're lucky enough to retire rich at 35, don't expect local government to offer you a property tax cut. Even if you retire at 65, your retiree status won't help -- but your age may make a big difference to your property taxes.

The tax goes to roads, schools, parks and other municipal expenses, and is based on the assessed value of your home. In many states, senior citizens can take advantage of tax deferrals or exemptions, as long as they meet the qualifying guidelines.

The median property tax on the state's median home value of $148,100 is $1,397. Individuals age 65 and older can claim an exemption. ... For homeowners 65 and older or totally disabled, $37,600 of the assessed value of their property is exempt from state taxes under the homestead provision for 2017-2018.

Texas homeowners who are over the age of 65 or legally disabled may file an affidavit to defer any collection of their property taxes until after they sell the home or die.

When seniors must file For tax year 2018, you will need to file a return if you are unmarried and at least 65 years of age, and your gross income is $13,600 or more. However, if you live on Social Security benefits, you don't include this in gross income.

You may or may not be free from paying income tax after age 70, depending on your circumstances. ... No matter what age you are, you may not have to file or pay income taxes, especially if you don't earn a dollar of income during the tax year.

The Senior Citizens' Exemption is a benefit program that reduces your property taxes by 50%. If you're 65 or older and earn $29,000 or less, you may be eligible.

Homeowners who are at least 70 years of age will automatically receive the Montgomery County Senior Property Tax Credit if they already receive either or both of the Maryland and Montgomery County Tax Credits.

Homeowners 65 and older (or surviving spouses 60 and older) are exempt from municipal taxes on the first $150,000 of assessed value of their property. The Equality State is tax-friendly to all residents, especially retirees. There is no income tax, and sales taxes are low.

The precise amount of the exemption depends on the assessed value of the home. ... Exemption for longtime limited-income seniors: If you are 65 years old or older, and have had a permanent Florida residence for at least 25 years, you may be entitled to a 100% exemption.