Author Topic: I don't like the new 1040 format  (Read 558 times)

Offline Deal Guy

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I don't like the new 1040 format
« on: February 08, 2019, 02:33:41 PM »
Is it just that I'm not used to it, or is it really bad and stupid?

I prefer the old way, when the 1040 had 79 lines, and you were able to see which credits are showing up, which adjustments to income there are, ect... and after that, if you wanted, you were able to see more details in the attached forms. (For example the credit for child and dependent care expenses -form 2441- showed up on line 49 of the 1040 with an amount, and then you were also able to see an attached 2441 for more details.)

Now, all those credits and adjustments still exist, but instead on seeing on the 1040 what credits you might have, it just says add here all amounts from schedule 2, 3 ect.. You have no idea from seeing the simple one-page 1040, what credits are taking place, whether it might be a 2141 credit, or an education credit, or an retirement contributions credit, ect, whether you have one credit or 5 credits from the same sheet..

I understand doing a whole tax code overhaul, but why mess with the 2 page 1040? In the 1980's and 90's people might have liked putting your taxes on a POSTCARD, but today, nearly all do it on a computer. So why truncate it all, to pretend it fits on a postcard?

Offline yitzgar

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Re: I don't like the new 1040 format
« Reply #1 on: February 08, 2019, 03:36:43 PM »
Is it just that I'm not used to it, or is it really bad and stupid?

I prefer the old way, when the 1040 had 79 lines, and you were able to see which credits are showing up, which adjustments to income there are, ect... and after that, if you wanted, you were able to see more details in the attached forms. (For example the credit for child and dependent care expenses -form 2441- showed up on line 49 of the 1040 with an amount, and then you were also able to see an attached 2441 for more details.)

Now, all those credits and adjustments still exist, but instead on seeing on the 1040 what credits you might have, it just says add here all amounts from schedule 2, 3 ect.. You have no idea from seeing the simple one-page 1040, what credits are taking place, whether it might be a 2141 credit, or an education credit, or an retirement contributions credit, ect, whether you have one credit or 5 credits from the same sheet..

I understand doing a whole tax code overhaul, but why mess with the 2 page 1040? In the 1980's and 90's people might have liked putting your taxes on a POSTCARD, but today, nearly all do it on a computer. So why truncate it all, to pretend it fits on a postcard?
Absolutely agree. Just a gimmick so they can say that it fits on a postcard, while the only ones who won't need to attach schedules will be those that could've use the ez form. It's not like the 1040 was immensely complicated for most people. And whoever had a complicated return will still have e one because of all the extra  schedules that need to be attached.

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Re: I don't like the new 1040 format
« Reply #2 on: February 08, 2019, 03:44:59 PM »
It used to be a '2' step deal. You had a particular schedule, which flowed on the 1040. For example, you had the 2441 which flowed onto a particular line (49) on the 1040.

Now it s a '3' step process. You have the 2441, which flows onto schedule 3, which then flows onto line 12b of the 1040.

I don't like it.

Offline nescafe

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Re: I don't like the new 1040 format
« Reply #3 on: February 09, 2019, 09:42:00 PM »
+1
I feel like it's more complicated for a simple return

Offline ludmila

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Re: I don't like the new 1040 format
« Reply #4 on: February 10, 2019, 02:02:26 AM »
+1
I feel like it's more complicated for a simple return
+1 It is.
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Re: I don't like the new 1040 format
« Reply #5 on: February 10, 2019, 12:44:06 PM »
I hope someone can come up with the brains to keep the new rules, but allow us to go back to the 2 page 1040 vs the silly 1 page.

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Re: I don't like the new 1040 format
« Reply #6 on: February 10, 2019, 10:26:08 PM »
MAGA!
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline ExGingi

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Re: I don't like the new 1040 format
« Reply #7 on: February 14, 2019, 03:56:26 AM »
MAGA!

Quote
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1. of an extent, amount, or intensity considerably above the normal or average.
"the article was of great interest"
synonyms:   considerable, substantial, pronounced, sizeable, significant, appreciable, serious, exceptional, inordinate, extraordinary, special

The IRC is a monstrosity that needs to be fully scrapped and redone. There are some good elements to the new tax law, simplicity is definitely not one of them. On the contrary, there's lots of added complexity, and CPAs will definitely be billing a lot more (and have to work harder), and the IRS will probably need to increase its payroll.
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Offline yitzgar

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Re: I don't like the new 1040 format
« Reply #8 on: February 14, 2019, 07:50:43 AM »
The IRC is a monstrosity that needs to be fully scrapped and redone. There are some good elements to the new tax law, simplicity is definitely not one of them. On the contrary, there's lots of added complexity, and CPAs will definitely be billing a lot more (and have to work harder), and the IRS will probably need to increase its payroll.
Like I said,  just a gimmick. The only way to really simplify things is by moving towards a flat tax

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Re: I don't like the new 1040 format
« Reply #9 on: February 14, 2019, 09:34:46 AM »
Like I said,  just a gimmick. The only way to really simplify things is by moving towards a flat tax
That's not the only way. But whatever way it is done, it needs to be done with a constitutional amendment. The IRC is just too powerful of a tool to give up for politicians and SIGs.
I've been waiting over 5 years with bated breath for someone to say that!
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