Last year, we made you aware of possible changes to Form 1040-SR. On December 19, 2019, the IRS released the final version of the form, an alternative to using Form 1040 for those age 65 or older. Form 1040-SR uses some of the same schedules and instructions as Form 1040. However, to use this form option properly, there are a few things seniors need to know.
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Starting with their 2019 tax returns, seniors may say "goodbye" to the 1040 Postcard and "hello" to a new tax return form called the 1040-SR. The IRS recently released a draft of the 1040-SR for comments on its website. But, like its 1040 counterpart, 1040-SR is not as simple as it looks.
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