Important Notice: The Senior Circuit Breaker Tax Credit

If it's too good to be true, it probably isn't; the public, tax preparers, and those who assist seniors in preparing their tax returns should be aware of The Senior Circuit Breaker Tax Credit and its regulations

On December 2, 2011, the Department of Revenue released a statement regarding a scam that surfaced last year in March 2011. Elderly persons living in public housing are being informed that for a $50 application, they will receive a tax credit, which in reality should only go to persons 65 years of age and over or who either own their homes, or rent in the private housing market.

Taxpayer Advocate Dennis Buckley states, "The Senior Circuit Breaker Tax Credit last year helped nearly 80,000 state residents receive a refundable tax credit. Unfortunately, several unscrupulous tax preparers coaxed elderly public housing residents to fraudulently apply for the credit (residents of public housing are ineligible for the credit)."

Please share the knowledge of this scam within your organization.

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