Posted on 06/03/2004 12:01:04 PM PDT by wallcrawlr
http://burns.house.gov/html/news_item.cfm?id=210
Summary from Max Burns (GA Rep) website.
Under current IRS rules, more than 35 million Americans are prohibited from using the short form simply because they are age 65 or older. Of those, more than 15 million currently file using only the standard deduction. The Burns legislation would create the new 1040SR, allowing non-itemized filing for seniors who receive retirement income. Seniors will be able to file in less time, on a one-page form, and without being forced to annually disclose more information on their retirement savings and pension plan than necessary to determine the proper taxes due.
It is a bizarre oversight that the IRS discriminates against American seniors using the 1040-EZ due to nothing other than age, says Rep. Burns. This new form will immediately make a simplified filing available to those over 62, and create a means for qualified individuals of any age who receive retirement income to file the simplified form.
The Burns legislation makes no change in the tax code itself, so Americans using the new form would pay the same amount as under the standard 1040.
Burns has asked Congressional leadership to fast-track the legislation, and allow a floor vote in both the House and Senate this year.
H.R.4109 Title: To allow seniors to file their Federal income tax on a new Form 1040S. Sponsor: Rep Burns, Max [GA-12] (introduced 4/1/2004) Cosponsors (14) Latest Major Action: 6/2/2004 Passed/agreed to in House. Status: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 418 - 0 (Roll no. 222).
So why is it 90% of the people in any casino around here seem to be of retirement age?
Some may have trouble having ends meet, but the truth is that seniors aren't all eating dog food, in fact they tend to be better off than other classes.
The ferwarder I look the backwerder I gits.
Blame it on Alheimer's and a long nite.
This senior thinks that is a mighty fine idea. LESSDOIT!
Hang in there, Geezer! It gets better, I promise!
"Or we could just go to a national retail sales tax and burn the IRS building to the ground."
Bears reposting .... what a marvelous thought.
TABLE 6
FAMILY NET WORTH AND NET FINANCIAL ASSETS OF
FAMILIES WITH TOTAL INCOME OF $30,000 OR GREATER
BY AGE OF HEAD OF FAMILY: 1995
Head
Families
Source: Capital Research Associates analysis of Survey of Income and Program Participation data
You, ma'am, have me shaking in my boots.
Congratulations. May I say that you are an older person worthy of respect. I'd gladly buy you a round at your favorite establishment.
"will never seek or accept a discount based solely on my age"
Reminds me of one of the great lines Ronald Reagan used in his debate with Walter Mondale, something about not exploiting his opponent's youth and inexperience for partisan political purposes. Mondale was in his 70s at the time. Even Mondale broke up at that one.
Uhh, negative, Reagan was 73. Mondale was 56 at the time.
Why not just treat "Retirement Income" the same as any income?
"It's about time that seniors are given the respect they deserve, after all the young are benefiting from what the seniors have done for them. But if all the seniors sat on their @ss you might not have what you young have now. Freedom and prosperity."
I'm so glad that I have had such an easy life and have had everything handed to me. Never mind the 10 years in the Army or the 40 hours a week during full time colleg or the confiscation of half my earned cash or many other things. I guess I should thank the "gimme" generation for making life so easy for us youngsters.
Why should any income be treated differently from the rest? I just love how the "convenient conservatives" populate FR.
Its gettin' so I'm looking forward to getting old. Of course, by then, the whole socialist house of cards will have collapsed.
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