McMorris Co-Sponsors Bill to Help Seniors Simplify their Taxes
(Washington, D.C.) Congresswoman Cathy McMorris today co-sponsored H.R. 432, the Seniors Tax Simplification Act of 2007 that would allow seniors to file their federal income taxes on a new simplified form.
“We have a growing senior population and there are simple steps we can take to make their lives easier,” said McMorris. “We have all experienced the confusion and frustration that can be associated with filing taxes every year. Senior citizens deserve to have the same options as others to use a simpler form when filing their returns.”
Current IRS rules prohibit individuals who are age 65 or older from using the 1040EZ form when filing their taxes. Instead they are required to use more complicated forms, solely based on their age and not their financial situation.
This legislation, supported by the AARP and the 60 Plus Association, would correct this problem by directing the IRS to develop a new form 1040S. This form would be similar to the 1040EZ, yet specifically designed for seniors who receive common types of retirement incomes. The IRS has estimated that as many as 11 million senior citizens would be able to take advantage of this simplified form in the first year.