It also has a chart designed to help senior taxpayers calculate their standard deductions. Filing options for Form 1040 If you need to file your individual income tax return, you can find Form ...

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 ...

Taxpayers who are age 65 or older, or who are blind, receive an additional standard deduction amount that is added to the basic standard deduction reflected in the above table. The additional ...

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

Aliss Higham is a Newsweek reporter based in Glasgow, Scotland. Her focus is reporting on Social Security, other government benefits and personal finance. She has previously extensively covered U ...