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Financial & Tax

​IMPORTANT: The Department of Justice’s National Elder Fraud Hotline is a free, personalized resource for adults aged 60 and older who are victims of financial fraud. Call (833) 372-8311 to connect with a live person. You will then be assigned a case manager who will remain your point of contact and will be treated with understanding and respect.

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Financial

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AUTO LOANS

  • Whether you’re planning to get a car or having trouble managing your auto loan, click here for unbiased resources and tools.​

BANK ACCOUNTS & BANK SERVICES

CREDIT CARDS

  • Whether you’re shopping for a new card or managing an existing one, here are the resources you need to manage your credit cards.

  • Complaints about a credit card you have or an experience with a credit card company should be submitted online to the Consumer Financial Protection Bureau.

CREDIT REPORT & SCORES

  • Your credit reports and scores affect your finances. These resources can help you better understand them, correct errors, and improve your credit record over time.

  • Credit disputes should be filed directly with each credit bureau, but credit bureau complaints should be submitted here. 

DEBT COLLECTION

  • Debt collection issues can be challenging. You don't have to face them alone. The Consumer Financial Protection Bureau has resources to help you understand how debt collection works, what your rights are, and guidance on its Debt Collection Rule.

  • If you have a complaint about a debt collection agency, submit it here.​

FINANCIAL FRAUD OR EXPLOITATION

​​​​​​​​​​​​​​​​​​​​FINANCING OF SENIOR LIVING OPTIONS

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MEDICARE

MONEY TRANSFERS

MORTGAGE - REVERSE

  • A reverse mortgage is a special type of mortgage loan for homeowners who are 62 or older.

  • Click here to learn the basics of a reverse mortgage, common issues, your rights, and more. 

  • If you are having an issue with a reverse mortgage, you can submit a complaint to the Consumer Financial Protection Bureau, and they will work on your behalf to get you a response from the company.

MORTGAGE - TRADITIONAL

  • Whether you’re thinking of buying a home, already have a home loan, or are having trouble paying your mortgage, the Consumer Financial Protection Bureau has resources to help you every step of the way.

PREPAID CARDS & PREPAID ACCOUNTS

QUESTIONS

  • The Consumer Financial Protection Bureau offers clear, impartial answers to hundreds of financial questions. Find the information you need to make more informed choices about your money.

Tax​​​​​

 

The following senior-focused tax topics and information, listed in alphabetical order, have been provided by the National Council on Aging. 

ABUSE, CRIME & FRAUD

EARNED INCOME TAX CREDIT (EITC)

  • If you have limited income, the Earned Income Tax Credit (EITC) can provide you with a federal income tax credit. Learn more about this tax relief program that could help lower the amount of taxes you owe or increase the amount of cash you get as a refund.

MARYLAND ASSESSMENT EXEMPTION FOR AN IMPROVEMENT REQUIRED FOR THE HEALTH OR MEDICAL CONDITION OF A RESIDENT 

  • Maryland Tax Property Article Section 8-233 provides that an improvement to a building required for the health or medical condition of the resident of the building may not be assessed for tax purposes. The exemption under this section may not exceed 10% of the total assessment of the real property on which the building is located.

  • To determine your eligibility for the exemption, download and submit the "Improvement Required for Health or Medical Condition of Resident" application.

  • For more information, contact the Maryland Department of Assessments & Taxation office at (410) 819-5920.

MARYLAND HOMEOWNERS PROPERTY TAX CREDIT PROGRAM

  • This program limits the amount of property taxes you pay on your home. It gives you a property tax credit that can help you lower your property tax bill. You can take part in this program if you are a homeowner, you pay property tax, and you have limited income and resources.

  • Click here to file for the Homeowners Tax Credit online, download the application, or call the Maryland Department of Assessments & Taxation office at (410) 819-5920 for more information.

MARYLAND PROPERTY TAX EXEMPTION - DISABLED VETERANS AND SURVIVING SPOUSES 

  • This program offers an exemption from paying the state portion of your property tax bill.

  • You may get help from this program if you are an honorably discharged veteran with a 100% service-related disability. You may also get help from this program if you are the surviving spouse of a veteran (who has not remarried).

  • ​Learn more here or call the Maryland Department of Assessments & Taxation office at (410) 819-5920.

  • Click here to download the ​Maryland:

    • 100 Percent Disabled Veteran Exemption Application

    • Surviving Spouse of Military Casualty Exemption Application​

    • Surviving Spouse of a 100 Percent Disabled Veteran Exemption Application​

MARYLAND PROPERTY TAX EXEMPTION FOR LEGALLY BLIND PERSONS

  • This program provides a property tax exemption that could lower the amount of property tax you pay if you are a homeowner who pays property taxes and is legally blind.

  • You may also get help from this program if you are a surviving spouse (who has not remarried) of someone who could have received this benefit.

  • For more information, contact the Maryland Department of Assessments & Taxation office at (410) 819-5920.

  • Click here to download the ​Maryland:

    • Blind Persons Exemption Application

    • Surviving Spouse of a Blind Person​​

MARYLAND SENIOR TAX CREDIT PROGRAM

  • The Maryland Senior Tax Credit helps Maryland residents who are age 65 or older save money on the taxes they owe each year. To qualify for this tax credit program, you must

  • To get this tax credit, you need to meet certain income requirements, fill out Maryland Form 502CB, and include it with your Maryland income tax form (Form 502) when you file your taxes for the year.

  • If someone else is doing your taxes, make sure they have a copy of Form 502CB or can print it.

  • These forms are different each year, so be sure the form you use shows the correct tax year at the top. You can obtain a Maryland Form 502CB in the following three ways:

  • ​For more information, contact the Maryland Department of Assessments & Taxation office at (410) 819-5920.

RENTERS' TAX CREDIT PROGRAM

  • This program can provide you with a credit for some of the rent you paid. You can apply if you are 60 years of age or older or if you have a disability. You may also apply if you are younger than 60 years of age and have at least one dependent child (younger than 18 years of age) living with you when the tax credit is claimed.

  • Learn more here or contact the Maryland Department of Assessments & Taxation office at (410) 819-5920.

  • Click here to file your Renters' Tax Credit application online.

TAX CREDIT FOR THE ELDERLY AND DISABLED

TAX RETURN PREPARATION AND COUNSELING

  • The IRS has two programs that offer FREE tax help and tax preparation.

    1. ​Tax Counseling for the Elderly (TCE) is for people aged 60 or older.

    2. The Volunteer Income Tax Assistance (VITA) is for people who need help with their tax returns, including those who speak limited English, have a disability, or generally earn $69,000 or less.

  • Each year during tax filing season, TCE and VITA locations are set up across the country at various community sites. These include libraries, malls, banks, community centers, and senior centers.

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