Trump Administration's New Postcard-Sized Tax Returns Are Coming -  And They're Just as Ridiculous as They Sound

The New York Times has obtained copies of the Trump administration's new tax forms that are supposed to fulfill the promise that people will be able to complete their returns on a postcard — and the result is nothing short of ridiculous.


As reporter Jim Tankersley points out, the GOP tax cuts passed in December 2017 didn't actually make the tax code simpler — there are just as many deductions, loopholes, and exceptions as ever. The idea of filing your taxes on a postcard is just as much a gimmick as was the claim that the law was a boon for the middle class.

To reduce the size of the ubiquitous 1040 form, the IRS has simply removed many fields used for the most common tax deductions, such as student loan payments. This means if you want to claim your deductions, you have to look them up in separate tables — on other sheets.

In other words, the so-called "postcard" is nothing of the sort. It's just one of many forms and worksheets that people will use to complete their taxes. (And you definitely will still need to mail it in an envelope for privacy reasons.)

Since the new tax code encourages many people not to take itemized deductions and to take the standard deduction, some may find they have to do less work under the new tax law when filing their returns. But for those who are unsure whether to itemize their deductions or not, the process could end up being more complicated than it would have been on the old form, Tankersley says.

Sen. Elizabeth Warren (D-MA), among others, has proposed an idea that would actually make your taxes simple. The IRS could simply fill out your tax forms for you, send them to you for any revisions and approval, and then have you send them back. This is a much better idea than the silly postcard.

But Republicans hate this idea because it actually makes taxes too easy. The GOP wants taxes to be a nuisance in order to drive support for their tax-cutting agenda. It's important to remember that this is why filing your taxes is such a pain — and the new "postcard" isn't going to make it better.

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}