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A senior citizen (65 or older before January 1, 2024) and a Massachusetts resident, may be eligible to claim a maximum $2,590 refundable credit on their Massachusetts personal income tax return. This Circuit Breaker tax credit is based on the actual real estate taxes or rent paid on a Massachusetts residential property owned or rented and occupied as a principal residence. This tax credit (and refund) of up to $2,590 may be available even if they have no Massachusetts taxes due or even do not have a Massachusetts filing requirement. Senior citizen homeowners may claim the credit if they paid more than 10% of their total income for real estate taxes and water and sewer charges. If you're a renter you can count 25% of the rent paid as real estate taxes.
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Those seniors who have no filing requirements due to their limited income should look into filing a Massachusetts income tax return as they may be due a refund of up to $2,590 for 2023. In addition, if you fall into this category you can either file or amend the previous three years of tax returns to get a refund. And, for those seniors out there who have filed tax returns and weren't aware of this credit, make sure you determine whether you are eligible for the credit in 2023. If you are, you should also look into filing or amending your previous 3 years tax returns to claim the refunds that you are due.
