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Postcard Sized Tax Return

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Postcard Sized Tax Return

On Tuesday, June 26, 2018, a draft double-sided half page “postcard sized” individual tax return was rolled out by the administration.  The new tax law makes filing taxes easier for everyday Americans earning a wage.  With the increase to the standard deduction, filers that don’t itemize have less complexity in computing their income tax, and many will not owe.

The Tax Policy Center estimates that 27 million fewer taxpayers will itemize under the new law.

While still appreciating the gesture, taxpayers can see this for what it is: a gimmick aimed to cater to the masses who are frustrated with the overly-complex tax code and the effort needed to try to comply with its strictures.

Category: Tax

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