Postcard-size Form 1040 planned
As part of a larger effort to help taxpayers, the IRS said that it plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season.
The new 1040 – about half the size of the current version — would replace the current Form 1040 as well as the Form 1040A and the Form 1040EZ. The IRS circulated a copy of the new form and will work with the tax community to finalize the streamlined Form 1040 over the summer.
This new approach will simplify the 1040 so that all 150 million taxpayers can use the same form. The new form consolidates the three versions of the 1040 into one simple form, the IRS said on June 29. At the same time, the IRS will still obtain the information from each taxpayer needed to determine their tax liability or refund.
Since more than nine out of 10 taxpayers use software or a tax preparer, the IRS will be working with the tax community to prepare for the streamlined Form 1040.
Taxpayers who file on paper would use this new streamlined Form 1040 and supplement it with any needed schedules, the IRS said.
