THE EVERETT ADVOCATE – FRiDAy, MARCH 15, 2024 Page 21 2023 Senior Circuit Breaker Tax Credit F or tax years since January 1, 2001, senior citizens living in Massachusetts have been eligible to claim a refundable tax credit on their state individual income tax return for real estate taxes they paid with respect to Massachusetts residential real estate that they own or with respect to rent that they paid, both relating to property that is occupied as the principal residence. The maximum credit allowed is $2,590 for calendar year 2023!! Eligible taxpayers who own their property may claim a credit equal to the amount by which their property tax payments in calendar year 2023 including water and sewer debt charges, exceed 10% of their total income for calendar year 2023. Taxpayers residing in cities or towns that do not include water and sewer debt service in their property assessments may claim, in addition to their real estate tax payments, 50% of the water and sewer use charges actually paid during the year. Renters may claim a credit in the amount by which 25% of their rent paid in calendar year 2023 exceeds 10% of their total income. For purposes of determining “total income”, taxpayers must include all taxable income as well as exempt income such as social security income, U.S. Treasury interest income, municipal pension income, etc. To be eligible for the tax credit, a taxpayer must be 65 years old on or before December 31, 2023. For joint filers, it is sufficient that only one of the individuals meet this requirement. Furthermore, a taxpayer must not be claimed as a dependent on another taxpayer’s tax return. The property in question must be located in Massachusetts and must be the taxpayer’s primary residence. The taxpayer’s total income may not exceed $69,000 for a single filer, $86,000 for ~ Everett Public Libraries Calendar of Events ~ March 18–24, 2024 Parlin Adult and Teens Yarn Club: Parlin Fireplace Room, Tuesday, March 19, at 7 p.m. Come chit-chat and stitch! Bring your crocheting, knitting or any other yarn craft and sit and socialize with other members of the crafting community. Recommended for ages 14-109! Chess Club: Parlin Fireplace Room, Wednesday, March 20, at 3 p.m. Play, learn and practice chess. All ages and skills welcome! someone filing as a head of household, and $103,000 for taxpayers filing married jointly. No credit is allowed for a married taxpayer filing a separate return. The assessed valuation of the real estate in question cannot exceed $1,025,000 as of 1-1-23. Taxpayers who are eligible for the credit in calendar year 2023 must file Schedule CB, Circuit Breaker Credit along with their Mass return. Taxpayers who do not normally file a Mass return may be interested in filing in order to claim the “refundable” tax credit. If you were a renter during calendar year 2023 and you received any federal and/or state subsidy, or you rented from a tax-exempt entity, you do not quality for the Circuit Breaker Credit. The maximum credit for prior years was only $1,200. This recent change in the Massachusetts tax law was a big boost to seniors. Tax credits received by eligible taxpayers are not considered income for the purpose of obtaining eligibility or benefits under other means-tested assistance programs including food, medical, housing and educational assistance programs. See TIR (Technical Information Release) 16-8 for more information. For more information, you may also contact the Massachusetts Department of Revenue Customer Service Bureau at 617-887-MDOR (or toll free at 1-800-392-6089). Joseph D. Cataldo is an estate planning/elder law attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a masters degree in taxation. Parlin Children’s Lego Club: Parlin Children’s Room, Monday, March 18, from 3-5 p.m. Come to the Children’s Room after school on Mondays for some free Lego building fun. Open to all ages; children under six years old must be accompanied by an adult. No registration required. Storytime with Vera: Parlin Children’s Room, Tuesday, March 19, at 12 p.m.; in English or Portuguese by request. Visit the Parlin Library Children’s Room to attend! Suggested ages: two to six. Storytime and Singalong with Karen: Parlin Children’s Room, Wednesday, March 20, at 11 a.m. Join us for a fun-filled morning of singing and storytelling with Karen! Suggested ages: newborn to six. Drama Class: Parlin Children’s Room, Wednesday, March 20, at 3 p.m. Do you have a drama queen or king at home? Drama Class in the Parlin Children’s Department is the perfect opportunity for your child to put those acting skills to use with our drama coach! Suggested ages: six to 14. Story Time Adventures with Mrs. McAuliffe: Parlin Children’s Room, Thursday, March 21, and Friday, March 22, at 11 a.m. Join Mrs. McAuliffe for our enchanting Story Time! You will be whisked away on magical adventures through the pages of your favorite books. Bring a friend or make a new one in our circle of friends. Storytime and Crafting: Parlin Children’s Room, Thursday, March 21, at 3 p.m. Join us for a read aloud and craft project in the Children’s Room. Suggested ages: five to 11. Registration is required; sign up online or at the Parlin Children’s desk. Fluency Fun Friday: Parlin Children’s Room, Friday, March 22, at 3 p.m. Drop by the Children’s Room for a selection of fun fluency table games with Mrs. McAuliffe. Suggested ages: five to 11. Shute Adult and Teens Canvas & Jars Paint Night : Shute Meeting Room, Tuesday, March 19, at 7 p.m. Unleash your inner artist! Join us for a Canvas & Jar Art Paint Night at the library. Get ready to let your creativity run wild as you transform blank canvases and jars into stunning works of art. Bring your imagination and leave with EVENTS | SEE PAGE 27
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