IRS Working on a New Form 1040 for 2019 Tax Season

admin • January 29, 2018

As part of a larger effort to help taxpayers, the Internal Revenue Service plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season.

IRS Tax

The new 1040 – about half the size of the current version — would replace the current Form 1040 as well as the Form 1040A and 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 1040 so that all 150 million taxpayers can use the same form. The new form consolidates the three versions of 1040 into one simple form. At the same time, the IRS will still obtain the information from each taxpayer needed to determine their tax liability or refund.

Tax Preparer

The new Form 1040 uses a “building block” approach, in which the tax return is reduced to a simple form. That form can be supplemented with additional schedules if needed. Taxpayers with straightforward tax situations would only need to file this new 1040 with no additional schedules.

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. This will also help ensure a smooth transition for people familiar with software products and the interview process used to prepare tax returns.

Taxpayers who file on paper would use this new streamlined Form 1040 and supplement it with any needed schedules.

Disclaimer: The information on this website and blog is for general informational purposes only and is not professional advice. We make no guarantees of accuracy or completeness. We disclaim all liability for errors, omissions, or reliance on this content. Always consult a qualified professional for specific guidance.

RECENT POSTS

Advance Directive vs. Power of Attorney: Key Differences
March 24, 2025
Advance Directive vs Power of Attorney. Understanding the key differences can help you make the right choices for yourself and your loved ones.
What Happens If You Pass Away Without a Will? - Florida tax Lawyers
March 3, 2025
What happens if you die without a Will is a question frequently asked by estate planning professionals, and We've tried to address it in our guide. Learn More!
Trust vs Will vs Probate: Which is Better for You?  - Florida Tax Lawyers
February 17, 2025
Trust, wills, and probate are three common legal tools for estate planning. But what are the differences, and which is best for you? Learn More!
How Can Having an Estate Planning Attorney Help? - Florida Tax Lawyers
February 3, 2025
We'll discuss the importance of estate planning, how an attorney can help, and why working with Florida tax lawyers is essential for protecting your assets.
What Is a Revocable Living Trust? - Florida Tax Lawyers
January 20, 2025
What Is a Revocable Living Trust? This guide will explain what a revocable living trust is, how it works, and why it might be a good choice for your estate plan

CONTACT US

CONTACT US

Share by: