July 11, 2018
The IRS released the newly redesigned 2018 Form 1040 and associated schedules on June 29, 2018. The redesigned Form 1040, about half the size of the 2017 (current) version, will also replace the Form 1040A and 1040EZ for the upcoming 2019 filing season.
The 2018 Form 1040 has been streamlined to only include the five most common types of income, federal withholding, EITC, Additional Child Tax Credit and the Education Credit. The detail for all other types of income, adjustments to income, nonrefundable, refundable credits, other payments and other taxes that exist on the current Form 1040 have been moved to one of six new schedules:
The IRS has explained that the version of the newly redesigned form released on June 29 is a pre-release draft and the IRS will be working with the tax community to finalize the Form 1040 over the summer. The final version of the form will be released towards the end of this year.
The draft of the 2018 Form 1040 also includes changes that are a result of the Tax Cuts and Jobs Act such as:
For additional information on the redesign of the Form 1040 see IRS news release -– IRS Working on a New Form 1040 for 2019 Tax Season.
Reminder of 2018 Itemized Deduction Changes
January 16, 2019
Qualified Business Income Deduction (20% Deduction for Certain Pass-Through Income)
January 9, 2019
Reminder of Form 1040 Redesign
January 2, 2019
Important Reminders for the Upcoming 2019 Filing Season
November 28, 2018
2018 Changes to Form 8867 (Preparer Due Diligence Checklist)
November 9, 2018
2018 Depreciation Changes
October 18, 2018