Today the IRS announced they are working on changes to the 1040 tax forms. The IRS has said that “this new approach will simplify the 1040 so that all 150 million taxpayers can use the same form. The new form consolidates the three versions of the 1040 into one simple form.” In addition to shortening Form 1040 to a postcard-sized return, the changes eliminate Forms 1040EZ and 1040A and increase the number of tax schedules supporting Form 1040 by six additional forms.
The 1040 forms (1040, 1040A, 1040 EZ) are the most common tax forms. The announcement today is the first major change to 1040 tax forms in decades. But, Intuit® ProConnect™ has you covered. Our teams are working with the IRS and Treasury, and our products will be up to date for next tax season so you can file with complete confidence with ProConnect (ProConnect Tax Online, Lacerte® and ProSeries®).
Who will be able to file with the new Form 1040?
Taxpayers who have a straightforward tax situation and claim the standard deduction will probably be able to file their taxes using the new Form 1040.
Intuit is ready to work with the IRS and Treasury to deliver the new 1040 tax forms and schedules. ProConnect Tax Online, Lacerte and ProSeries customers can feel confident that our software developers will incorporate the necessary changes into our software products. We’ll continue to keep you informed as we make progress toward next filing season.
Check back with the ProConnect Tax Pro Center for updates on 1040 tax form changes.