If you are 65 or older, you are entitled to a larger standard deduction.
Older taxpayers have a higher gross income threshold for filing, which means you may not have to file a tax return. But, if income tax was withheld from your pay or you qualify for the earned income tax credit, the additional child tax credit, or the health coverage tax credit, you should file a return to get a refund even if you are not required to do so. Either way, you will need to file a 2007 income tax return this year in order to qualify for the economic stimulus tax rebates.
If you were age 65 or older, or if you were under age 65 but retired on permanent and total disability and received taxable disability income, you may qualify for this credit.
If you or your spouse are unable to care for yourself, you may qualify for the Credit for Dependent Care Expenses.
You should also know that some of your Social Security benefits may be taxable.
