Washington, DC – Today, U.S. Senator Kay Hagan announced she is cosponsoring bipartisan legislation with Senators Marco Rubio and Bill Nelson of Florida to simplify federal tax returns for seniors. The Seniors’ Tax Simplification Act of 2013 would create a basic, easy-to-read federal income tax form specially designed for individuals 65 and older that would include the option to list Social Security and pension income.
“With so many different forms to fill out, filing their taxes can be complicated and confusing for many Americans, especially seniors,” said Senator Hagan.”Seniors with Social Security and other retirement income should have the option to use a short, straightforward and easily understandable tax return, and I am proud to support this bipartisan, commonsense legislation to simplify the process for older Americans, including many of our nations’ veterans.”
Many Americans file their tax return using the simple 1040-EZ form, but seniors are currently unable to use the 1040-EZ because it doesn’t allow for items such as Social Security and pensions, which for many seniors – including military veterans – are their only sources of income. The bill directs the Treasury Department to create a new 1040-SR where seniors can list their Social Security and pension income instead of having to use multiple forms.
“I talk to so many North Carolina seniors who are having trouble navigating complicated tax forms and are forced to spend money on extra tax preparation software and services,” said AARP North Carolina State Director Doug Dickerson. “This legislation will save seniors’ time, cut back on mistakes, and save them money by not having to spend more on the full version of tax software, and on behalf of our AARP members, I am pleased that Senator Hagan is working to decrease the burden on older Americans.”
“The Seniors’ Tax Simplification Act has support from Democrats and Republicans and is exactly the type of commonsense legislation that we can all unite around in an effort to make life easier for our seniors,” added Hagan.
The Seniors’ Tax Simplification Act of 2013 is also endorsed by a number of groups, including AARP, the Association for Mature American Citizens, the National Taxpayers Union, Americans for Tax Reform, and the 60 Plus Association.
Tyesha Lucas. Goldsboro Daily News: Curtis Media 2013