posey.house.gov

Posey, Bill

Washington, March 5, 2018 -

Legislation proposed by Congressman Bill Posey (R-Rockledge) to simplify tax filing for seniors living on fixed incomes was signed into law recently by President Donald Trump.

"Making Washington more understanding of the everyday needs of Americans, especially our senior citizens, is a priority for me," said Congressman Posey. "Many senior citizens don’t have complex income streams and their tax filing forms should reflect that reality." 

The Seniors' Tax Simplification Act directs the IRS to create a new 1040SR form, similar to the existing 1040EZ form, for seniors who are 65 years or older if their incomes include Social Security benefits; distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; interest and dividends; or capital gains and losses.