This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
News
Latest News
Rubio: “La Tenacidad y Valentía del Pueblo venezolano Estarán a la Vista”
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Rubio, Scott, Colleagues to Biden Admin: No Privileges Should Be Given to 9/11 Terrorist
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Rubio, Colleagues Introduce Ensuring Continuity in Veterans’ Health Act
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
Rubio Introduces Bill to Strengthen U.S.-India Security Partnership
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
Senators Rubio, Nelson Introduce “Seniors Tax Simplification Act”
Washington, D.C. – Florida’s two U.S. senators, Marco Rubio and Bill Nelson, today introduced S. 1006, the “Seniors Tax Simplification Act,” to simplify the tax code and filing requirements for seniors. The legislation would create a new 1040SR form that will allow for easier filing for Social Security benefits, as well as dividends, capital gains and interest.
A companion bill, H.R. 1058, has been introduced in the House by Congressman John Fleming, M.D. (R-LA). This legislation has been endorsed by the American Association of Retired Persons (AARP), the 60 Plus Association, Americans for Tax Reform (ATR) and the National Taxpayer Union (NTU).
“Filing one’s taxes has become a dreaded experience, but this is especially so for seniors whose retirement finances are simple but still have to deal with a complicated filing process,” said Sen. Rubio. “For many seniors, paying taxes can and should be a lot easier than it is, and this new senior tax form will eliminate the hassle by making it easier to report their income each year.”
“Seniors are not alone when it comes to dreading doing their tax returns,” said Sen. Nelson. “Almost everybody complains about the hours it takes and seemingly endless complex forms. So this legislation is a good step in the right direction. Hopefully, we’ll be able to simplify the tax code next.”
“As the sponsor of the Seniors Tax Simplification Act in the House of Representatives, I’m very delighted to be working with Senators Rubio and Nelson from Florida on this simple yet significant legislation for seniors,” said Rep. Fleming. “The leadership of both these senators from such an important state as Florida will ensure a very bright prospect for this bill’s passage. My cosponsors and I in the House will be working very hard to make this important bill become a reality.”
ADDITIONAL BACKGROUND ON SENIORS TAX SIMPLIFICATION ACT
Under current law, the Internal Revenue Service (IRS) makes filing a tax return more difficult for seniors by prohibiting taxpayers over the age of 65 from using the one-page form 1040EZ, even if they have a simple return and choose not to itemize deductions. This is because the form 1040EZ does not include a line for pension and Social Security income. Instead, seniors are required to file using the far more complicated form 1040 and its numerous schedules.
The Seniors Tax Simplification Act will provide a basic, easy-to-read form called the 1040SR for senior taxpayers earning Social Security, retirement benefits, interest and capital gains. The Joint Committee on Taxation has reviewed this legislation and stated that the enactment of this law will have no revenue effect and will not add to the debt.