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65 Or Older in 2019? You’ve got a new tax form.

The Bipartisan Budget Act passed in 2018 created many changes to the existing tax reporting. One interesting form that is only available to tax payers over 65 years of age is Form 1040SR.

The 1040SR Senior Income Tax form allows for reporting of several types of income and you can use it even if you are employed or collecting unemployment.

“Taxpayers who turn 65 years of age in 2019 or are older will have the option to use a new simple tax form for seniors, known as the 1040SR, when filing their 2019 taxes during the 2020 tax filing season. The new form is provided for in section 41106 of the Bipartisan Budget Act of 2018 (BBA), a two-year budget agreement passed by Congress and signed by President Donald Trump on February 9, 2018.”

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