Here’s the latest in our series of tips about what’s new in 2009 with estimated taxes. Today’s pertains to certain government retirees.
According to the IRS, if you are a government retiree and you did not receive an economic recovery payment as a recipient of social security, supplemental social security, railroad retirement, and veterans disability compensation or pension benefits, you are allowed a credit of $250 ($500 if both you and your spouse are government retirees and you file jointly). The credit is refundable.
