https://www.irs.gov/pub/irs-dft/f1040s--dft.pdf
Ping for later. Very interesting, have to give this on a look. Thanks for posting!
I will just wait for TurboTax to roll it out. Sheesh. You have have to be a tax accountant or tax attorney to understand this stuff now.
.
A box to check if you are blind?
Government thinking just never changes.
What’s the age for seniors to use this form??
Line 2: Send it in!
Can someone who actually reads the articles tell me what the big difference is here. I glanced at it..couldn’t even see how old you have to be to fill it out
The new form was created by the 2018 Bipartisan Budget Act, which among its provisions called for the development of a tax return that would be easy for seniors to use and highlighted retirement income streams and other tax benefits for seniors. Those age 65 and older will be able to use this form to file their 2019 tax returns, and the IRS presented an overview of the new form at the IRS Nationwide Tax Forum in National Harbor, Md., earlier this week.
Using the new form isn’t mandatory, but seniors can choose to use it if they want to. The form is based off the regular 1040, and the IRS says it uses all the same schedules, instructions and attachments. Older taxpayers who use tax software to file are unlikely to even notice.
But for taxpayers who still file by paper, the new form will be modified for aging eyes. The font is bigger to make the text easier to read. The shading in boxes on the regular 1040 has been removed to improve the contrast and increase legibility.
A highlighted feature of the new form is the addition of a standard deduction chart, said Darren Hamilton, an official in the agency’s forms and publications division who presented information about the new form. The form lists the standard deduction amounts, including the extra standard deduction amount that taxpayers age 65 and older qualify for “so seniors don’t have to hunt for it,” said Hamilton at the Maryland tax forum. The chart makes it simpler for seniors to take advantage of the full standard deduction for which they are eligible, particularly for those who may not even be aware of the extra amount for which they qualify.
The form has lines for specific retirement income streams, such as Social Security benefits, IRA distributions, and pensions and annuities. “AARP supported the development of the simpler 1040 SR tax form since most seniors could not use the 1040 EZ due to their different sources of income,” says David Certner, AARP legislative counsel.
But the IRS says you don’t have to be retired to use the form. The agency says the form is appropriate for older workers to use, too.
It doesn’t look much different from the form I filed out last year. I’m single, take the standard deduction, have no dependents, no income other than pension and social security. As long as it’s one double-sided sheet, I’ll be happy.
What? A senior form? Is the print extra large size? does it come with GPS tracking if I misplace it? If I make a mistake can I claim Senior Moment?
I don’t like it. I suggest adding these lines:
How much of a refund do you want? __________
Do you want it by check or direct deposit? _______.
Can we get a discount on our taxes if we are AARP members?
People over 65 should no longer be bothered by the IRS. Let them live out the remainder of their days in tax-free peace.
Bookmark
I see under deductions it gives ‘standard’ or ‘itemized’. I wonder if my wife and I get any deduction for us and being over 65, if we use itemized to include what we give to charities?