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1040 SR the New Tax Return Form for Seniors the Balance

1040 SR the New Tax Return Form for Seniors the Balance

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hello my name is Katie sonorous with sonorous Wealth Management and in this video we're going to talk about new IRS Form 1040 SR and what do you need to know about it let's get going [Music] first let's take a look at the form itself as you can see it's a little bit similar to 1040ez but it's different from the regular 1040 I'll put the link to the form itself and the instructions in the description first of all what is new about the four form 1040 SR starts in 2019 so seniors will fill out this form for the first time in April of 2020 the new form 1040 SR is simplified tax form for seniors that have uncomplicated finances and usually use a standard deduction form 1040 SR allows you to report income from different sources like salaries tips interest to be eligible to use this form the senior has to be 65 or older by the end of either 2019 or by the end of the tax filing year this form also features much larger font and bigger spaces and new form 1040 SR unlike 1040 EZ does not have in

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