The new look of the form 1040 for the year 2018 is the first major change. For more accounting information and accounting courses, visit our website at accountinginstruction.info. The noticeable difference on the 1040 for 2018 is the format and layout. The new 1040 is shorter in terms of the actual page. However, much of the information that was previously on the full 1040 is now included in other supporting schedules. Initially, I thought this change was a gimmick, where the same information is just moved to other schedules. But upon further examination, I can see the benefits of this new format. The first page of the 1040 and the second page display the new layout. I believe this is a better layout because in the prior year, there were essentially three different 1040s, which made the process confusing. We had the regular 1040 form, the simplified 1040EZ, and the middle-ground 1040A. Even tax professionals may not have known which form to use, as tax software determined the appropriate form. For those not using tax software, understanding the differences between the forms was challenging. Hence, having one form for everyone, the 1040, and adding schedules as needed, makes more practical sense. While the new format may not reduce the substance significantly, as the information is still present, it improves the clarity and consistency. Even when I prepared tax returns using software, I would mainly focus on the 1040 form, as I was more familiar with its numbering and layout. The 1040 contains all the necessary information and has various line items for adjustments. On the other hand, the 1040EZ and 1040A have different line item numbers, making it harder to navigate. With the new format, the line items are similar throughout the document, making it easier to follow. Supporting documents...
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