Translations from Your Trusted Advisor.
On Friday the IRS issued a news release detailing their first draft for a significantly modified “postcard‑sized” 1040. It uses a “building block” approach of up to six additional schedules to complete the modified form. They caution that this is only the first draft of the new form which is currently released for review and comment. To see the new form and schedules, check out the IRS’ Draft Tax Forms website.
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