Low-Income Elderly Tax Credit Must be Claimed by June 30, 2015

June 18, 2015

It’s June so you may be thinking of summer fun such as a baseball game, a cookout, or a weekend away at the beach. It may seem odd to ask you to think about a credit refund now. However, an important deadline is coming up for Hoosier seniors.

Indiana has a refundable credit for low-income senior citizens known as the Unified Tax Credit for the Elderly, and it must be claimed by June 30, 2015.

If someone is 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 the credit. While singles may qualify for a credit up to $100, those who are married and filed jointly may qualify for up to $140.

If the eligible senior already has filed a 2014 Indiana income tax return, then the credit probably has been claimed. To check, look at line 4 on the senior’s Indiana Schedule 5. If the credit should have been taken but wasn’t, make sure to claim the credit by filing (have postmarked) a corrected or amended return no later than June 30, 2015.

If you know a senior citizen who doesn’t have to file a state income tax return because his or her income is very low, check out Form SC-40. If the senior is eligible for a credit (refund), make sure the form is completed, signed, and postmarked no later than June 30, 2015.

Form SC-40 only takes about 10 minutes to complete, so you easily can get back to relaxing and enjoying your summer.

As always, if you have questions about individual income taxes, you can call the department at (317) 232-2240.