An extra $1,950 if 65 or older.
It is not a "simplified" return in terms of tax law—you still report the same types of income and use the same schedules—but it is physically more accessible. Key Features for the 2024 Tax Year Eligibility Requirements irs form 1040-sr 2024 pdf
Determine if you are filing Single, Married Filing Jointly, Married Filing Separately, Head of Household, or Qualifying Surviving Spouse. An extra $1,950 if 65 or older
💡 Even if you aren't required to file because your income is below the filing threshold, you may still want to file Form 1040-SR to claim refundable credits or get back any federal tax that was withheld from your retirement distributions. 💡 Even if you aren't required to file
An extra $1,550 per person who is 65 or older. Layout and Readability
Head to IRS.gov, download the 2024 PDF, or log into your favorite tax software and ensure they are using the "SR" version for your return.