Filing twice may put your refund on ice, warns the Indiana Department of Revenue (DOR). By sending multiple tax filings, individuals are freezing tax processing in its tracks, ultimately delaying their potential refund. This is especially somethingDOR wants seniors to remember, as they may mistakenly file both Form IT-40 and SC-40 in an effort to claim the Indiana Unified Tax Credit for the Elderly.
“Over 2,000 seniors mistakenly filed both the IT-40 and SC-40 last year claiming the Indiana Unified Tax Credit for the Elderly when only one of those forms was necessary,” explains DOR Commissioner Adam Krupp. “Unfortunately, most of those individuals experienced a significant delay in receiving their refunds.”
By sharing this information early in the tax season, DOR hopes seniors will check to make sure they’re only applying for this credit once a year.
The Indiana Unified Tax Credit for the Elderly allows eligible customers to get a tax refund of up to $140. This credit can be applied for on both Form SC-40 and Form IT-40. To determine which form to use, customers should evaluate their income in 2018.
Hoosiers who are not required to file an income tax return can use Form SC-40 to claim a refund. This simple, one-page form is due by July 1, 2019, giving seniors more time to file.
To use the simplified SC-40 form, individuals must meet one of the following requirements:
Income less than $2,500 if single or widowed,
Income less than $3,500 if married but only one individual is 65 or older, OR
Income less than $5,000 for married couples with both aged 65 older.
More details on Form SC-40 can be found on the DOR website at dor.in.gov and clicking on “2018 Tax Forms.”
Hoosiers do not need to meet all requirements for Form SC-40 to qualify for the Indiana Unified Tax Credit for the Elderly. In fact, some seniors may need to file Form IT-40 depending on the amount of income in 2018. If the senior’s income was at least $2,500 or a senior couple’s combined income is at least $5,000, customers should file Form IT-40.
To qualify for the Indiana Unified Tax Credit for the Elderly, using either Form IT-40 or SC-40, an individual (and/or spouse) must be age 65 or older by Dec. 31, 2018, and meet all of the following:
They must file a joint return if married and live together at any time during the year,
Their income subject to tax must be less than $10,000,
They must have been a resident of Indiana for at least six months, and
They must not have been in prison for 180 days or more in 2018.
For more information on the Unified Tax Credit for the Elderly and individual income tax filing, visit DOR’s website at dor.in.gov. Customers with additional questions may contact DOR Customer Service at (317) 232-2240, 8 a.m. – 4:30 p.m. EST, Monday – Friday.