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THE SAUGUS ADVOCATE – Friday, February 15, 2019 Page 13 S by Jim Miller Do I Need to File a Tax Return This Year? Dear Savvy Senior, What are the IRS income tax filing requirements for retirees this tax season? My income dropped way down when I had to retire last year, so I’m wondering if I need to file a tax return this year. Retired Ron Dear Ron, Whether or not you are required to file a federal income tax return this year actually depends on several factors: how much you earned last year (in 2018); the source of that income; your age; and your filing status. Here’s a rundown of this tax season’s IRS tax filing requirement thresholds. For most people, this is pretty straightforward. If your 2018 gross income – which includes all taxable income, not counting your Social Security benefits, unless you are married and filing separately – was below the threshold for your filing status and age, you may not have to file. But if it’s over, you will. • Single: $12,000 ($13,600 if you’re 65 or older by Jan. 1, 2019). • Married filing jointly: $24,000 ($25,300 if you or your spouse is 65 or older; or $26,600 if you’re both over 65). • Married filing separately: $5 at any age. • Head of household: $18,000 ($19,600 if age 65 or older). • Qualifying widow(er) with dependent child: $24,000 ($25,300 if age 65 or older). To get a detailed breakdown on federal filing requirements, along with information on taxable and nontaxable income, call the IRS at 800-829-3676 and ask them to mail you a free copy of the “Tax Guide for Seniors” (publication 554) or see IRS.gov/pub/irs-pdf/p554.pdf. Check Here Too There are, however, some other financial situations that can require you to file a tax return, even if your gross income falls below the IRS filing requirements. For example, if you earned more than $400 from self-employment in 2018, owe any special taxes like an alternative minimum tax, or get premium tax credits because you, your spouse or a dependent is enrolled in a Health Insurance Marketplace (Obamacare) plan, you’ll need to file. You’ll also need to file if you’re receiving Social Security benefits, and one-half of your benefits plus your other gross income and any tax-exempt interest exceeds $25,000, or $32,000 if you’re married and filing jointly. To figure all this out, the IRS offers an interactive tax assistant tool on their website that asks a series of questions that will help you determine if you’re required to file, or if you should file because you’re due a refund. It takes less than 15 minutes to complete. You can access this tool at IRS.gov/filing – click on “Do I Need to File?” Or, you can get assistance over the phone by calling the IRS helpline at 800-829-1040. You can also get faceto-face help at a Taxpayer Assistance Center. See IRS.gov/localcontacts or call 800-829-1040 to locate a center near you. Check Your State Even if you’re not required to file a federal tax return this year, don’t assume that you’re also excused from filing state income taxes. The rules for your state might be very different. Check with your state tax agency before concluding that you’re entirely in the clear. For links to state tax agencies see Taxadmin.org/state-tax-agencies. Tax Preparation Help If you find that you do need to file a tax return this year, you can get help through the Tax Counseling for the Elderly (or TCE) program. Sponsored by the IRS, TEC provides free tax preparation and counseling to middle and low-income taxpayers, age 60 and older. Call 800-906-9887 or visit IRS.treasury.gov/freetaxprep to locate a service near you. Also check with AARP, a participant in the TCE program that provides free tax preparation at around 5,000 sites nationwide. To locate an AARP Tax-Aide site call 888-227-7669 or visit AARP.org/findtaxhelp. You don’t have to be an AARP member to use this service. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. FOR THREE DECADES | from page 12 if it wants to address the issues that are there,” DEP spokesman Coletta said. “Depending on what they’re going to redevelop it for. It would be more strict for future use as residential. But if it were only going to be used as a warehouse, it would be less restrictive,” he said. “Vapor intrusion” is the primary environmental concern which must be dealt with, according to Coletta. “Chemicals in the soil or floating in the top of the groundwater causes vapors to come up through the ground and basement,” he said. “There are ways to eventually remediate these things. You could put a vapor barrier down and do other things. But, it’s definitely going to cost some money to do that,” he said. The longtime resident ofPennybrook Gardens apartments recalled that the townhouse units were very attractive at the time of their construction -- until environmental officials learned about the contamination which also threatened some of the adjacent property that was part of Pennybrook Gardens. With town officials concerned about a shortage of affordable housing, there is interest in seeing the property cleaned up so that it can be used for that purpose. “It’s kind of a shame that the KITCHEN CABINETS Strip & Refinish To Look Like New 508-840-0501 FURNITURE STRIP & FINISH property has set vacant for all these years,” Board of Selectmen Chair Debra Panetta said this week. “I’d like to see it cleaned up and put to good use,” she said. It’s not clear whether NE Acquisitions has a long-range plan to develop the property. Several attempts to reach a company official at his Methuen office were unsuccessful. 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