Yearly Renewal of Deductions

On or before March 1 of the year immediately following the tax year for which the deduction was claimed or received, a claimant must file a Post-Tax Year Income Statement, confirming that annual income for the tax year did not exceed the $10,000 limit and the anticipated income for the current year will not exceed that limit and that all other eligibility prerequisites continue to be met.

IF THIS INCOME STATEMENT IS NOT TIMELY FILED BY THE MARCH 1 DEADLINE, THE DEDUCTION WILL BE DISALLOWED AND CLAIMANT WILL BE BILLED $250.