Preview of Postcard Tax Return
U.S. Department of the Treasury says, “Cutting red tape has been a core tenet of the Trump Administration’s economic policies.”
The Tax Cuts and Jobs Act protects important benefits for both American families and businesses, while simplifying our tax code for the benefit of all taxpayers. While the Act includes $5.5 trillion in gross tax cuts, it also includes $4 trillion in reforms, including eliminating special-interest loopholes.
Front of Postcard Tax Return
Back of Postcard Tax Return
The new postcard-size 2018 Form 1040 is more “hat trick” than substance. Fewer than 10% of all individual tax returns are filed with paper forms. The 5 attachments are not postcard size and I have not yet seen an estimate of how many people will be required to file one or more of those attachments, but I can assure you the number will be high.