If the best things come in small packages, taxpayers may be eager to learn that the U.S. government plans to deliver a much smaller 1040 form in the next tax year.
But that doesn’t mean it’s any less complicated, CBS News, the New York Times and other news outlets report.
A side-by-side comparison of the current document and new form, obtained by CBS, shows that officials have eliminated enough language to get it down to one page — technically.
“A new postcard-sized version of the income tax form leaves off a number of popular deductions, making taxpayers search for them on several accompanying worksheets,” The Hill reports.
A copy of the new form obtained by The New York Times includes six additional worksheets.
This abbreviated version could make things more complicated for the IRS if taxpayers trying to navigate the worksheets submit the new 1040 via mail instead of electronically, The New York Times notes.
The revamped form is tied to Congress’ overhaul of the U.S. tax code, which passed in late 2017. Most changes won’t go into effect or be applicable to tax filings until 2019, however.
PHOTO CREDIT: Ken Teegardin–Flickr–CC
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