The New 1040 Form

The Internal Revenue Service has changed things up again just in time for the 2019 tax filing season when you'll prepare and submit your 2018 tax return.

The IRS introduced the concept of a whole new 1040 tax form early in 2018 on the heels of the Tax Cuts and Jobs Act —the new tax law that went into effect on Jan. 1. Big deal, you might think. A multitude of tax forms already exists. What’s one more?

But this one replaces the old Forms 1040, 1040A, and 1040EZ. It must be used by pretty much all 150 million American taxpayers. The IRS states:

"For 2018, you will no longer use Form 1040A or Form 1040EZ as you may have in the past. Instead, you will use the redesigned Form 1040, which now has six new numbered schedules in addition to the existing lettered schedules like Schedules A, B, C, D, E and F."

In other words, all 150 million taxpayers must use the same form, regardless of their incomes or their personal financial situations.