Change you can believe in.

[Graybeard]

The obamination campaigned on a promise of change. He also promised NO NEW TAXES and lots of other BS he had no intention of trying to live up to.

Yesterday I found out about one change he made that for some reason I've not heard a single word about anywhere and I'm not a happy camper.

Every since I filed my first federal income tax form on the Form 1040 it has had in block six a place to put a check for yourself and your spouse and then two more blocks beside that to mark if either or both of you were 65 or older. If so they you got a double deduction at age 65.

I turned 65 in 2010 and was looking forward to finally being able to check that box and get an additional deduction. No not any more it's not there on the 2010 Form 1040 and not in the instructions. It was quietly done away with even tho it's been there at least 45 years that I've been filing federal income tax.

Did anyone else notice this? I'm thinking not cuz not many folks file their own income tax anymore. For 2010 they didn't even send out the tax packages anymore not even to folks who've always done their own. They said in the card I got that only 8% (I think that's the number) of folks still fill out their own taxes using hard copy forms. They also told how many use tax preparers and it was most folks.

[nova71]

looks like it was done before 0bama, I checked my returns all the way back to 2004 and it wasn't on any of them. it also had one for being blind if I remember correctly   

[jimster]

My wife does our taxes every year, fills out the forms and mails them in.  She keeps up on the changes best she can, don't know about the 65 year old thing, not 65 yet, but it doesn't surprise me on anything they do.

We are in the 8 percent that does our own?  I had no idea, we must be a dying breed.  Last I heard it cost a lot of money to have someone do your taxes for you. 

[BBF]

 
 
I used to do ours as well and then found out about 4 years ago I chipped myself regularly. So now it costs me 95 bucks for the Missus and myself. We get every deductions we are entitled to and the Tax Accountant stands good for any mistakes they might make that the Feds could nail me with.

[The Hermit]

Bill, I use Tax Cut software and for line 39a, it checked that I was born before Jan 2, 1946, and it has a block for blind, and spouses info too.  I may be wrong, but I think this takes the place of the older forms, and that the difference is calculated with the software.
Because I'm gonna be 76 in April, (as in over 65), I don't loose a dollar for every dollar of Social Security money either.
But, Lordy, they do make it awfull complicated to fill out.

  The Hermit

[magooch]

I've always done our taxes and that 65 thing has been gone for awhile as nova71 said.

We're long past due for a simplification of tax laws, but I am not holding my breath until that happens.  A whole industry depends on complicated and confusing tax laws.

I would strongly favor a change in the tax law which would exempt anyone who is retired and over the age of 65 from even having to file a return.  In return, I would propose ending the cost of living adjustment to social security.  Sounds fair to me.

[The Hermit]

Social security is supposed to be adjusted for inflation, but we have had no increase in the last 2 years. This is because the Dept of Labor does not account for price increases for energy or food when calculating the CPI. Also, if the dollar goes to 5 cents, then what? Just shoot all us old folks? A third thing I would like to bring up is the fact that there are many people over 65 with pensions and dividend income. I feel obligated paying taxes on my fair share. I just hate to see my tax dollars help Libya and being wasted in other ways.
But I do agree, magooch, that there should be a better way to handle the tax problems, and like you, I won't hold my breath either.

  The Hermit

[Pat/Rick]

My disability is taxed as well.    My wife works so I get no reprieve at all.