June 29,2018
the staff of the Ridgewood blog
Washington DC, The Trump administration on Thursday released a proposed draft of its new 1040 tax form, which is shorter than the current form but could require additional documentation depending on the financial circumstances of the taxpayer.
The 1040 form is the U.S. individual income tax return. The proposed 2018 return is less than one page, with just 23 lines. However, there are six additional schedules that taxpayers may have to attach to the main form.
The Tax Cuts and Jobs Act, which eliminated certain deductions, helped the administration shrink the size of the main individual tax form. Items that used to be included on the main form, however, are now moved to subsequent schedules.It should be noted that these documents are just drafts and may not reflect the finished product.