The legislation that resulted in the creation of IRS Form 1040-SR began on March 5, 2013 with the introduction of the Seniors Tax Simplification Act by Senators Marco Rubio (R-FL) and Bill Nelson (D-FL), who were joined by Senator Mike Lee (R-UT).The bill didn't pass until Form 10...
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The Social Security Administration announced itsannual COLAin October, pegging the 2024 change on the most recent inflation data. Seniors and other recipients will get an increase of 3.2%, a much smaller boost than the2023 and 2022 increasesof 8.7% and 5.9%, respectively. The average benefit wi...
2024's benefit increase is higher than most years, but still lower than what seniors received in 2022 and 2023. Here are COLAs over the last decade: January 2014: 1.5% January 2015: 1.7% January 2016: 0.0% January 2017: 0.3% January 2018: 2.0% January 2019: 2.8% January 2020: 1.6% ...
Another is TheTax Counseling for the Elderly(TCE) program, who offers free tax help for all taxpayers, particularly those who are 60 years of age and older. TCE volunteers specialize in answering questions about pensions and retirement-related issues unique to seniors. ...
Another is TheTax Counseling for the Elderly(TCE) program, who offers free tax help for all taxpayers, particularly those who are 60 years of age and older. TCE volunteers specialize in answering questions about pensions and retirement-related issues unique to seniors. ...