Re-design of Your Tax Return…Again?
I’m here right at the beginning of tax season.
Tax filings officially started just a couple days ago.
I’m sure there’s one or two people out there that already jumped on it. I know I’ve had a couple clients who were early to it this year, but I do want to give you kind of a humorous heads up.
I don’t know if any of you remember the talk a few years ago about a postcard size tax return that was all the rage. The Republicans trumped that up, (that wasn’t supposed to be a pun), but they kind of trumped that up a little bit for a while.
Last year in 2018 they kind of did that though. The tax return was really just two half pages and then a whole bunch of schedules, six different schedules which replaced the traditional form that we had seen for 30 years.
It was a little awkward last year, a little new. Well this year there’s been a redesign again, so if you’re going to prepare your returns just expect to see something a little different.
This year they’ve increased the length of the 1040 page one and two so it’s no longer a half page so theoretically it’s no longer a postcard size. Though it is shorter than the 2017 version, but they have cut back the number of schedules from six to three. Now we’ve got kind of like a hybrid. We’ve got a slightly shorter 1040 for whatever that’s worth and instead of six schedules we have three.
If you ask me it’s all kind of silly, but there you have it. Don’t be surprised if your return will look a little different this year just like it looked a little different last year, and I predict some time in the future they’ll just kind of go back to the way it was, but for now we’ve got what we’ve got.
If you need any help with your tax returns Etrends is capable of helping you prepare returns in all 50 states. We help x-pats, we help non-resident aliens, resident aliens, small businesses, and medium sized businesses. We do a lot, especially if you have some tax planning needs. We have a lot of very innovative tax planning solutions for you. Come see me.
Happy tax season!