Levins Tax Law
Schedule your initial consultation:

The IRS has a new tax form for those over age 65 for 2019

After spending a lifetime working and preparing for retirement, people over the age of 65 -- here in Massachusetts and elsewhere -- often end up living on fixed incomes and others continue to work well after this birthday. Even so, many of them must still pay taxes on the income they do receive. The IRS recognizes their need to retain as much of their income as possible, so for the 2019 tax year, people within this age bracket can use a new tax form.

The new 1040-SR comes from the 2018 Bipartisan Budget Act, not the Tax Cuts and Jobs Act. What it does is increase the standard deduction for single and married seniors. Older taxpayers should review their tax situations to determine whether this form will provide them greater benefit than another form.

One of the benefits of the new form is that it does not require both parties who file married joint to be age 65 or older. As long as one of them turns 65 by Dec. 31, 2019, the form is available. It also accounts for dependents since many older people continue to care for their adult children or their grandchildren regardless of their age. Even self-employed seniors can use this form.

Anytime changes occur in the tax law, it is a good idea for individuals to review their tax situations in order to determine how a particular change applies to them, if at all. Doing so often requires significant knowledge of the tax laws, which many Massachusetts residents lack. For this and other reasons, it would be beneficial to sit down with a tax attorney who keeps up the changes issued by the IRS in order to make the best possible choices when it comes to filing taxes.

No Comments

Leave a comment
Comment Information
Email Us For a Response

Resolve Your Tax Problems

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Framingham Office
1671 Worcester Road
Suite 304
Framingham, MA 01701

Framingham Tax Law Office

Boston Office
38 Newbury Street
6th Floor
Boston, MA 02116

Boston Tax Law Office

By Appointment Only