Sometimes getting a tax break has nothing to do with your shopping habits, income or location. In fact, half of the states in the country offer a tax break to individuals who are at, or near, retirement age.
And those benefits can vary widely, according to CCH Inc.'s John Logan.
In Iowa, for example, individuals 55 years of age or older get an income tax break. Married taxpayers filing jointly qualify for a $12,000 exemption, while single individuals can get a similar tax break for half that amount.
Illinois taxpayers, on the other hand, are exempt from paying state income taxes on any income from a pension or a 401(k), which can provide a big savings boost to those in retirement.
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Source: CCH Inc.
Relief for retirees
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