IRS form 1040-SR

The Balance - 2/8/2021

Form 1040-SR is a version of the 1040 tax return that was created specifically for use by senior citizens. Lawmakers have been trying for years to cut seniors a bit of a break at tax time, and the Bipartisan Budget Act of 2018 finally marked a solid step in that direction. It required the Internal Revenue Service (IRS) to create a tax form that is easier to read and use for individuals aged 65 and older, which resulted in the 1040-SR.
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