The Internal Revenue Service is reminding people with disabilities that there may be a number of strategies they can follow to minimize their tax obligations for any given filing season.
According to the IRS, people who are legally blind may be able to claim a higher standard deduction than others on their tax return. However, those who itemize their deductions are not able to claim the standard deduction, nor can they do so if they file separately from a spouse who itemizes his or her deductions.
Also, taxpayers with disabilities are advised that work expenses related to their ability to perform their job duties are also potentially deductible. Such deductions would apply to both mental and physical disabilities.
Another thing to remember is that taxpayers above the age of 65, as well as certain disabled people, are eligible for a tax credit, while various disability-related payments, including Supplemental Security Income and Veterans Administration disability benefits, are not counted as part of one's taxable gross income.
Finally, the IRS notes that people with disabilities can further ease their tax burden if they itemize and have medical expenses to deduct. It's also worth checking with a tax preparer to see if one qualifies for the Earned Income Tax Credit.
Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.