My grandmother hadnt filed in a several years, so i was asking the question for her.
2007-09-15 08:41:56 · 19 answers · asked by Lennie Pepperidge 1 in Society & Culture ➔ Cultures & Groups ➔ Senior Citizens
It depends upon whether they make enough money from investment income, savings dividends, or employment sources. If all her income is Social Security, it's not likely she needs to file a tax return at all, but it's good to review her tax situation year after year anyway. Sometimes things change and it's good to be sure.
My mom was 87 when she died and was collecting only social security for the last 17 years of her life. I filed anyway, but she was NOT obligated to file for those 17 years because she made no other income. The IRS even sent us a notice to that effect, so it's really your option to file or not to file. It doesn't really matter either way.
2007-09-15 08:51:04 · answer #1 · answered by Gary D 7 · 7⤊ 0⤋
It depends on whether or not she still earns income, the amount of her benefits, her investments and a multitude of things. I have not filed in a few years because there is no need if your income is below a certain amount and the amount is fairly generous. Many of us find it actually costs us money to work by the time we pay for transportation and clothing so we choose not to do it. When the government wises and makes it worth our time to work we may stop volunteering and start to be productive citizens again. I figure if I worked more than 10 hrs. a week at minimum wage I would find myself in a financial bind that would not stop as long as i worked. That's just the way it is as a senior. But if you want to know more specifics about your gram, usually there is a free tax filing in the early part of the year for seniors. Check your local Area Agency on Aging or Senior Center for details.
2007-09-18 16:05:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It all depends on her outside income, meaning anything other than Social Security, such as dividends, earned income, pensions or anything where she gets money. There are some exclusions such as being the beneficiary of an insurance policy, or a lawsuit where she has been awarded a settlement.
On her annual statement from Social Security it will give directions and information on this. If it's over a certain amount (listed on the form) it's taxable.
Also, you might want to check for Homeowners/Rental rebates that your State offers. This could come in handy in a time of need.
You could also ask Social Security, they would have the answer.
2007-09-15 08:57:32 · answer #3 · answered by Cranky 5 · 4⤊ 0⤋
If all she gets is her SS, then no she does not have to file. However she is allowed to have more than her SS and still not have file her taxes. Either you or her needs to do is call a CPA (someone that does your tax return) and ask them if she should file or not. Seniors are allowed to make so much a year without having to file.
Case in point, my parents get their SS and mom received her inherits from her mothers death. I called my CPA about this, and they didn't have to file as they didn't make enough money to file even with her inherits that she received.
I see that I got a thumbs down for this answer. So I am going to add something to my answer. I will put it this way, the state that we live in is that way. I did call my CPA about my parents to see if they had to file, they told me no. Other states may be different, I don't know. But what I said earlier is the truth for here. But every case is different and I under stand that. So my best advise is for you to call your CPA to make sure. They don't charge you anything to ask questions. You can call the IRS or a CPA, but the CPA has more time to answer your questions than the IRS does. A CPA knows as much about the taxes as the IRS.
2007-09-15 09:06:52 · answer #4 · answered by SapphireB 6 · 2⤊ 1⤋
This Site Might Help You.
RE:
do senior citizens still have to file taxes ???
My grandmother hadnt filed in a several years, so i was asking the question for her.
2015-08-06 21:44:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
As a senior I can tell you that you are allowed so much income over and above what you bring in from SS before
a senior even has to consider it. Most of us live from paycheck to paycheck of SS, so that's well below the poverty
income and so there is no worry of filing taxes.
2007-09-17 19:26:35 · answer #6 · answered by Lynn 7 · 2⤊ 0⤋
Yes my mom is 78 she owns her home and she has to file. For what Im not sure but she gets a refund because she has to pay personal property tax and a few other taxes. The social security people send her something like W2's
Two things you can never escape death and ,,,
2007-09-18 05:02:01 · answer #7 · answered by staymay 7 · 0⤊ 0⤋
It has nothing to do with age 65 except that is the social security age and you stop earning income. If you receive only non-taxable income there is no need to file a return since you have no tax liability and therefore no tax refund, right?
2016-03-22 19:48:50 · answer #8 · answered by Anonymous · 0⤊ 0⤋
how much income can a senior earn before having to file with the irs?
2015-08-27 02:29:58 · answer #9 · answered by Carol L 1 · 0⤊ 0⤋
If she has an income, she files. You might need to consult a tax attorney in case she owes back taxes.
I assume you're in the U.S.
2007-09-15 10:25:33 · answer #10 · answered by felines 5 · 0⤊ 1⤋