I wonder, can you still file the old 1040 form with the appropriate schedules, or does this new form basically eliminates all deductions too?
Bye H&R Block. Bye Felicia!
BEE-U-TI-FUL!
Unless you’re H&R Block...
Would still put it in an envelope.
My grandad said when he just started out in a job the 1040 or whatever it was called then was an IBM card and you just checked boxes and wrote in an amount or something but that was it.
Looks like there is no place to report wages, other income or how much you owe.
I imagine that the IRS is going to use employer reporting and investment reporting to capture that information, and will send you a bill or a refund automatically.
This postcard-sized form doesn’t necessarily simplify your filing: You still have additional schedules to calculate your credits and other breaks.
And if it is that simple, then how many IRS people are not needed any more?
WINNING!!!
Two lines:
How much did you make?
Send it in.
I think I’ve seen it before:
1. How much money did you make?
2. Send it in...
Easy questions too
Line 1...total income
Line two. Send it in.
Eliminate Mandatory With Holding if you really want to see change.
Oh I missed page 2.
So it has 23 lines.
Last year’s form had 79.
That is an improvement.
”How much did you make? Enter amount: ______________”
”Send it in.”
What if you are self employed? H&R Block in not going away.
TURBO Tax and H&R Block are NOT Going away! The postcard form works as sole filing for those with income strictly from Wages, Interest, Dividends, Pensions/IRAs & Social Security. Additionally the taxpayer can only use the standard deduction and standard tax tables. This is like a much streamlined 1040EZ and DOES WORK for many taxpayers.
All of the entries for Adjustments, Tax Credits, Added Taxes and other such items are now on the NEW Schedules 1 thru 6. The old ‘alpha’ Schedules of A/B/C ... are still there in addition. For the people who work with taxes, we see that this eliminates the old 1040EZ/A and the full 1040, all returns will have this ‘postcard’ form to start, then the more complex returns have the added schedules, new and old.
A note of caution here though, the new schedules are very preliminary but have a lot of lines designated ‘Reserved’. I wonder what is going on behind the scenes?
In fact, the following excerpt should be put above line 1 income on the new tax form.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States."—Justice John Marshall, Gibbons v. Ogden, 1824.
Patriots need to give Pres. Trump as much of a new Congress as they can in the 2018 midterm elections, new Trump-supporting, state sovereignty-respecting patriot lawmakers that will stop appropriating taxes for things that Congress cannot justify under its Section 8-limited powers.
And to put a permanent stop to unconstitutional federal taxes, patriots need to support Trump in leading the states to repeal the 16th and ill-conceived 17th Amendments.
Amazing! The Trump Administration did what other Republicans have only promised for generations without delivering. They simplified tax filings!
I will complete a more complicated filing, but I won’t whine and complain about it. The Trump Administration is doing many great things!