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Annzen Asked July 2020

Desperate need of help with taxes both are senior citizens for 2018-2019 and have just our Social Security, interest on our house. Ideas?

In 92880 CA.

newbiewife Jul 2020
Just for reference, because of covid AARP suspended in person tax prep for this tax season. If it's income taxes that are a concern, I concur with the poster to go to the IRS site itself where you can find the link to file for free. It's quite easy for people with simple returns.

magnolia1 Jul 2020
log on to irs.gov you may have to search but there is a tool where you input your info and it lets you know if you need to submit tax forms. They may reach the requirements for not having to file taxes.

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Margshome Jul 2020
Contact AARP. They run tax clinics every year in many places and do not charge for the service.

JoAnn29 Jul 2020
Sorry, I took it as property taxes. Like Worried said, if all you have is SS you may not have to file taxes. SS in itself is not a taxable income unless you have additional income that takes you over the cap set. Your local Office of Aging should be able to put u in touch with someone who can do your income taxes at no cost or on scale.

Labs4me Jul 2020
If you mean help with your property taxes, California has the following:

California has three senior citizen property tax relief programs:
● the property tax assistance program provides qualified low-income seniors with cash reimbursements for part of their property taxes;
● the property tax postponement program gives qualified seniors the option of having the state pay all or part of their property taxes until the individual moves, sells the property, or dies; and
● the replacement housing program allows seniors to sell their residence, buy a new one of equal or lesser value, and transfer the old residence's assessed value to the new home (this enables them to keep the property tax ceiling obtained under Proposition 13 that is normally lost when purchasing a new home).

BarbBrooklyn Jul 2020
Also the IRS VIT/TCE Programs:

https://www.benefits.gov/benefit/722

https://turbotax.intuit.com/tax-tips/retirement/when-does-a-senior-citizen-on-social-security-stop-filing-taxes/L53Hx1v9W

According to the article cited above, if Social Security is your only income, you don't have to file Federal taxes.

When you say "interest on your house" do you mean mortgage interest that you've paid? That's a deduction, but would apply if you aren't paying any taxes from your SS.

GardenArtist Jul 2020
AARP has volunteers who help seniors with tax returns.

https://www.aarp.org/money/taxes/aarp_taxaide/

 800-906-9887

I don't know how much their typical schedule has been affected and/or altered by the pandemic, or the extension, but it's worth a call.
ElderSafety Jul 2020
Saving those on fixed income money 💰! Very helpful
Isthisrealyreal Jul 2020
You should call the IRS and ask them to send you the tax code for filing as a senior citizen.

This will help you understand how much you can earn above your SS and if you even have to file taxes.

My dad is single and gets a pmt for property he sold, with interest and he doesn't have to file taxes.

I used my CPA to find out what we needed to do and how it worked.

Do you mean equity in your house? That would not effect anything until you sell and collect payment.

worriedinCali Jul 2020
If all you have is social security income than I highly doubt you will need to sell your house in order to pay your taxes. Are you sure you even need to file? If you are looking for free tax prep then the area on aging for riverside county should have a list of tax preparers. California doesn’t give anyone a tax freeze either. There are property tax exemptions if you are 65+, you can get school bond taxes removed from your property tax bill but this state is all about taxes so we all have to pay one way or another unless our income isn’t taxable or below a certain amount.

JoAnn29 Jul 2020
I live in NJ. We have the tax freeze that we are entitled to once 65. We also have the Homestead rebate. Not much but it helps. If you aren't aware of what your Township offers, then you need to talk to someone at the tax office to see what discounts you are entitled to.

If your problem is you can't afford the taxes, then you may need to sell your home and use the proceeds to offset the cost of an apartment, trailer, smaller home or rent a home. I am not aware of any entity who will continuously help u with ur taxes.

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