Treasury Department Unveils New 1040 Form

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By on July 2, 2018 in Agency News with 0 Comments

The Treasury Department and the Internal Revenue Service have announced a redesign of the 1040 individual income tax return form that is being touted as one that will fit on a single postcard.

“The new, postcard-size Form 1040 is designed to simplify and expedite filing tax returns, providing much-needed relief to hardworking taxpayers,” said Treasury Secretary Steven T. Mnuchin.

The redesigned form will replace the current Form 1040, as well as the Form 1040A and the Form 1040EZ thereby consolidating all three into one form intended to be more simple. The IRS circulated a copy of the new form (pictured below) and said it will work with the tax community to finalize the new Form 1040 over the summer.

The Treasury Department also said the new form will streamline tax returns so that all 150 million taxpayers can use the same form. The IRS will still obtain the information from each taxpayer needed to determine their tax liability or refund.

Image of the new simplified IRS 1040 form - page 1

Image of the new simplified IRS 1040 form - page 2

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Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce.

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