About that postcard…
Remember this?
Turns out, it’s this:
You can mark it as yet another broken promise from President Trump and Congressional Republicans about their tax law. The New York Times was given a draft of the new “postcard” tax form, which isn’t quite a postcard at all and is more complicated for tax filers than before. It’s the practical equivalent of changing the font on a term paper in high school. Key excerpts:
Turns out, it’s this:
You can mark it as yet another broken promise from President Trump and Congressional Republicans about their tax law. The New York Times was given a draft of the new “postcard” tax form, which isn’t quite a postcard at all and is more complicated for tax filers than before. It’s the practical equivalent of changing the font on a term paper in high school. Key excerpts:
“The Trump administration’s new ‘postcard’ tax form still must be mailed in an envelope, unless you want your neighbors to see your Social Security number. It… could add pages more paperwork for millions of others.”
“Smaller is not necessarily simpler. The new form omits a variety of popular deductions, including those for student loan interest and teaching supplies, forcing taxpayers to search for them — and tally them up — on one of six accompanying work sheets.”
“While the new tax law did not drastically simplify the individual tax code, millions of taxpayers could save a bit of time on their filings this year, by skipping itemized deductions and claiming the newly expanded standard deduction instead. (This assumes taxpayers know right away whether that’s the smartest course for them; if they don’t, they will need to take the time to add up itemized deductions anyway, and then compare with the standard deduction.)”
“The new form could make things more complicated for the I.R.S., which suffered a critical malfunction on the deadline day for filing tax returns this year…”
“Smaller is not necessarily simpler. The new form omits a variety of popular deductions, including those for student loan interest and teaching supplies, forcing taxpayers to search for them — and tally them up — on one of six accompanying work sheets.”
“While the new tax law did not drastically simplify the individual tax code, millions of taxpayers could save a bit of time on their filings this year, by skipping itemized deductions and claiming the newly expanded standard deduction instead. (This assumes taxpayers know right away whether that’s the smartest course for them; if they don’t, they will need to take the time to add up itemized deductions anyway, and then compare with the standard deduction.)”
“The new form could make things more complicated for the I.R.S., which suffered a critical malfunction on the deadline day for filing tax returns this year…”