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Seniors should apply for homeowner/renter tax credit
January 22, 2009
Montanans who were 62 or older as of Dec. 31 should check to see whether they qualify for Montana's elderly homeowner/renter tax credit for 2008.
If you can answer "yes" to the following questions, then you may be eligible for the credit.
--Were you age 62 or older as of Dec. 31, 2008?
--Did you reside in Montana for nine months or more during 2008?
--Did you occupy Montana residence(s) as an owner or renter a total of 6 months or more during 2008?
--Was your total gross household income less than $45,000 in 2008?
The state of Montana allows people who qualify a credit for a portion of their property taxes or rent paid based on their income. The credit can be used against their state income tax liability or as a direct refund, if they are not required to file a Montana state income tax return. Only one claim is allowed per household.
To determine eligibility, complete Form 2EC that may be available at your local library, post office, from tax preparers or at the State or local Department of Revenue Office.
Form 2EC at the Department of Revenue website is a "self calculating" form but taxpayers can simply print it if they prefer http://mt.gov/revenue. Form 2EC was redesigned for the 2008 tax year. Among the most notable changes are fewer lines on the form, and better instructions to help taxpayers calculate the credit. Form 2EC must be filed on or before April 15, 2009 or with your Form 2 or 2M.
If you think you may have been eligible for the tax credit in prior years and didn't take advantage of it, you are still allowed to file for the credit for up to five years from the original due date of the Form 2EC. If you need help in completing Form 2EC, call (406) 444-2830 (hearing impaired only) or toll free: 1-866-859-2254. If you are calling from the Helena area dial: 444-6900.
Contact: Marsha Goetting (406) 994-5695 or goetting@montana.edu
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