November 24, 2006

Promises, Promises

Filed under: Taxes & Government — TBlumer @ 8:05 am

IRS to simplify Form 1040 by 2009 tax filing season

The IRS announced changes planned for Form 1040 that could be available as soon as the 2009 tax filing season.

The major changes include simplifying the current 77-line form, freeing up space for any future tax reporting changes. Simplifying the form means removing a number of less-frequently used lines dealing with adjustments to income, credits, taxes and payments from the cover page. The lines would be relocated to a new Schedule O.

If you really want simple, this is the answer.

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