Treasury, IRS Announce Development of Postcard-Size Form 1040 for 2019

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Washington— Delivering on the promise to simplify taxes for the American people, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) today announced that Americans will be able to fill out their individual income tax returns on a single postcard-size form for the 2019 tax season.
 

The 2019 IRS https://home.treasury.gov/policy-issues/top-priorities/tax-cuts-and-jobs-act/simplification-and-fairness-for-hardworking">Form 1040 will 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.
 

“As part of the historic Tax Cuts and Jobs Act, this Administration committed to making taxes simple and fair for American families. We are delivering on this promise,” said Secretary Steven T. Mnuchin. “The new, postcard-size Form1040 is designed to simplify and expedite filing tax returns, providing much-needed relief to hardworking taxpayers.”
 

This simplified Form 1040 will streamline tax returns 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 will still obtain the information from each taxpayer needed to determine their tax liability or refund. 

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