Similar to 1040EZ but allows unlimited income/dividends/capital gains
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Appears to be an arbitrary benefit for seniors with no real reason why it couldn’t be opened up to all.
I agree. However, it should be noted that the reason for this form for seniors is because they aren’t allowed to use 1040ez. There is a different standard deduction for seniors and non seniors and that makes the form a bit more complicated, which is probably the reason seniors were disallowed from using ez in the first place.
I don’t find it that much more complicated to input the correct standard deduction (and it would seem to me more complicated to try to figure out which form to use) but there is some basis for the distinction.
i wish we’d go to the return free system in other countries, where the govt sends you a bill and you submit deductions etc…
Then time to vote out the members of congress that are in the pockets of the tax prep industry.
I found this new form somewhat belatedly, having failed to pay heed when it first was announced.
But tax filing day is upon us, or very nearly, so I decided t’was time to get to work on mine and:
That’s when I discovered this new form! It worked for me just fine.
And I am happy as a clam finally to have finished my Federal taxes. I owe 'em money so will not file until fifteenth of July. But the new form is a winner.
Now have to complete my state taxes, not started as yet. Oh, well. There is always something else.