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?
Well, for me the standard deduction will now outweigh itemizing.
back to EZ it is.