Studies on the functional quality of the internal clock that governs the temporal processing of older adults have demonstrated mixed results as to whether they perceive and produce time slower, faster, or equally well as younger adults. These mixed results are due to a multitude of methodologies applied to study temporal processing: many tasks demand different levels of cognitive ability. To investigate the temporal accuracy and precision of older adults, in Experiment 1, we explored the age-related differences in rhythmic continuation task taking into consideration the effects of attentional resources required by the stimulus (auditory vs. visual; length of intervals). In Experiment 2, we added a dual task to explore the effect of attentional resources required by the task. Our findings indicate that (1) even in an inherently automatic rhythmic task, where older and younger adult’s general accuracy is comparable, accuracy but not precision is altered by the stimulus properties and (2) an increase in task load can magnify age-related differences in both accuracy and precision.