Savvy senior - Do You Need To File a Tax Return This Year?

Dear Savvy Senior

What are the IRS filing requirements for seniors this year? I had to file income tax returns last year, but my income dropped a bit and I’m wondering if I may be off the hook this year. What can you tell me?

Tired of Taxes

Dear Tired,

According to the Tax Policy Center, more than half of all seniors in the U.S., age 65 and older, won’t have to file income tax returns this year mainly because their incomes are under the IRS filing requirements. Here’s a breakdown of the 2010 filing requirements along with a few other tax tips you should know.

Filing Requirements

If your “gross...