The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and cost-of-living adjustments.

As a result, the IRS created a version of Form 1040 that uses larger print and includes a standard deduction table directly on the form so that seniors can quickly look up their standard deduction ...

Another notable difference is the standard deduction chart. The 1040-SR form has a specific section that provides the standard deduction chart for seniors, which is not included in the regular ...

What Is the Advantage of Filing Form 1040-SR? Form 1040-SR includes a table for standard deductions, simplifying the process for seniors who are not itemizing deductions. What Is the Additional ...

If you’re preparing your taxes, you'll file federal income tax Form 1040 ... deductions. But many people don't itemize since it became more financially advantageous for them to claim the ...

If you receive a 1099-INT, the tax form that reports most payments of interest income, learn if you have to pay taxes on the interest it reports. • Form 1040-SR is a large-print version of Form ...