Wednesday, March 19, 2025
Tax season can feel overwhelming, but with the right resources and knowledge, older adults and those who support them can navigate it smoothly. Understanding available tax benefits, avoiding scams, and utilizing free assistance programs can help make the process easier.
Tax Benefits for Older Adults
Older adults may qualify for several tax benefits. Those aged 65 and older can claim a higher standard deduction, reducing taxable income. Some individuals may also be eligible for the Credit for the Elderly or Disabled, providing additional tax relief. Additionally, medical expenses that exceed 7.5% of adjusted gross income can be deducted if itemized, helping offset healthcare costs.
Social Security and Taxes
Social Security benefits may be partially taxable depending on overall income. If total income—including adjusted gross income, nontaxable interest, and half of Social Security benefits—exceeds certain thresholds, up to 85% of benefits may be subject to taxation. Consulting a tax professional can clarify individual situations and ensure compliance.
Avoiding Tax Scams
Tax scams remain a significant threat, with older adults frequently targeted. The IRS will never call, text, or email individuals regarding tax payments. Any demand for immediate payment, emails claiming to be from the IRS, or promises of large refunds for a fee should be treated as red flags. Staying vigilant can help prevent financial fraud.
Free Tax Assistance
Free Illinois tax assistance is available to qualifying individuals. Programs such as the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) provide IRS-certified help with tax preparation. AARP Tax-Aide also offers support for individuals aged 50 and older with moderate incomes. These services can simplify the tax filing process and ensure accurate submissions.
If you need further help, please contact AgeGuide’s local Information & Assistance partners.
Filing Tips
The tax filing deadline for 2025 is April 15. Filing electronically with direct deposit is the fastest and safest way to receive refunds. By staying informed, utilizing free resources, and seeking professional advice when needed, older adults and aging professionals can navigate tax season with confidence.
