Don't Leave Money on the Table

Hello and Happy Fall! My note this month explains the 2016 Montana Elderly Homeowner/Renter Credit Form 2EC.

There is one money-saving offer anyone in Montana who was age 62 or older as of Dec. 31, 2016, should not ignore. It comes from the Montana Department of Revenue and is known as the Montana Elderly Homeowner/Renter Credit, or 2EC. The 2EC is essentially a refund on the property taxes you’ve paid and it is also available to qualifying renters, including those who rent lots. How much of a refund you receive is calculated based on your income.

If you were age 62 or older by Dec. 31, 2016; occupied a Montana residence as an owner or renter for a total of six months or more during 2016; resided in Montana for nine months or more during 2016; and had total gross household income less than $45,000 in 2016 you may qualify.

If you meet all four qualifications and have not filed for the tax credit in your annual filings, the next step is to complete Form 2EC and submit it with a copy of your property tax bill or signed rent receipts. Some people can file for up to five years of past tax credits (2016, 2015, 2014, 2013 and 2012) if they previously haven’t, and it can add up.

Here’s one example of how much this tax credit can help. A woman contacted a Resource Specialist at Missoula Aging Services for assistance because her mower/snowplow wasn’t working. She needed to get it fixed so she could mow her lawn and clear her sidewalks on her own. After talking to a Resource Specialist the caller learned that she was eligible for the 2EC credit. After completing and filing an application, she received enough of a refund to repair her mower/snowplow.

Free online filing is available at revenue.mt.gov. If you want assistance applying for yourself or a loved one who may qualify, call to make an appointment with me, Linda Howard, Seeley-Swan Resource Specialist at 406 541-7688.

Reference: Money on the table: Montana Department of Revenue allows Elderly Homeowner/Renter Tax Credit by Mary Dalton Jan 2, 2014;http://missoulian.com/lifestyles/booming/money-on-the-table-montana-department-of-revenue-allows-elderly/article_384d11f4-73c1-11e3-ac19-0019bb2963f4.html