The postcard-size form 1040 is here! It has been announced by the Treasury Department and the Internal Revenue Service. President Donald Trump can put another check mark beside one of his campaign promises. A quick glance at it and you can see that there will be a lot less work for H&R Block and all those other cottage industry storefronts during tax season.
As Written and Reported By Liz Moyer for CNBC:
Next year, Americans will be able to file their individual tax returns on a postcard.
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The GOP’s long-promised change is an offshoot of a tax overhaul last year that cut corporate rates and changed individual tax brackets. On Friday, the Treasury Department and IRS unveiled the new postcard, which will replace the current forms 1040, 1040A and 1040 EZ.