AARP Tax-Aide Program
It's hard to keep up with changes to the tax code. Older adults may also qualify for additional deductions or credits. Thankfully, AARP maintains a Tax-Aide Program to help! The program offers year-round answers to tax questions and also coordinates volunteers in Maine who can help you with your taxes. Click here to find out more about the program.
If you're doing your own taxes, here is some information you may find helpful.
Dependent Care Credit
If an individual paid someone to care for a child or a dependent adult so they could work, they may be able to reduce their taxes by claiming the credit for child and dependent care expenses on their federal income tax return. A “qualifying” dependent may be a spouse who is mentally or physically unable to care for him or herself. A dependent may also be an individual of
who is physically or mentally incapable of self-care if that person can be claimed as an exemption on the tax return (or could have been claimed, except for the fact that the person had
$3,900 or more of gross income. For more information, see IRS Publication 503 or consult a professional tax preparer.
Earned Income Tax Credit
Relatives raising children may qualify for an Earned Income Tax Credit. A “qualifying child” must be:
- Son, daughter, adopted child, stepchild, or a descendant such as a grandchild for whom you cared as if s/he was your own child or,
- Brother, sister, stepbrother, stepsister, or a descendant, such as a grandchild for whom you cared as if s/he was your own child or
- Eligible foster child
To learn more about the qualifying guidelines reference IRS Publication 596 or consult a professional tax preparer.