New Tax Form for Age 65+ Tax Filers
A new tax form, 1040-SR, was unveiled by the IRS last July and will be available for filing 2019 taxes in 2020. It has a larger font size than the standard 1040 form and a prominent chart for calculating the standard deduction. Taxpayers who use the new form must be at least 65 but not necessarily retired. Small business owners and itemizers, however, still need to use the standard 1040 form.
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