Just six (or so) months after the Internal Revenue Service (IRS) released the much talked about - and maligned - form 1040 for the 2018 tax year, there’s a new draft in town. Here’s a quick peek at the latest version, intended for the 2019 tax year.
the much talked about - and maligned - form 1040 for the 2018 tax year, there’s a new draft in town. Here’s a quick peek at the latest version, intended for the 2019 tax year:Still determined to inspire tax professionals to kick their copy machines, the first page of the form 1040 doesn’t fill the page. Instead, as last time, it takes up just 2/3 of the page. It justlike a Congressional compromise: still bigger than the promised postcard, but smaller than a standard size piece of paper.
Why did the form grow? There's a good reason. The income reconciliation schedule - the bit where you summarize your income from the various forms and schedules - has been returned to the front page. Names and Social Security Numbers. The spaces for signatures have moved to page two. This was an issue with the revised form 1040 in 2018, since many tax preparers didn't love having a full page of figures without a signature fearing it could lead to fraud or other problems.
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