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Chairman Kevin Brady, R-Texas, holds a tax filing postcard in November 2017. Photo: Tom Williams/CQ Roll Call.

The New York Times obtained a draft of the new 1040 income tax form Tuesday, and, as the Trump administration and Congressional leaders promised, it's smaller.

Why it matters: Some taxpayers will spend less time filling out the new 1040 form. Others, particularly those who need to tally business income, capital gains and other forms of income, will likely still face a mountain of paperwork.

The details: The main form has shrunk from two full pages to a double-sided half page.

  • More than half of the line items from the previous form are gone.
  • Several deductions — such as student loan interest or teaching supplies — that were on the old 1040 have been removed.
  • Those deductions haven't been eliminated — they've just been offloaded to six different accompanying worksheets that many taxpayers will also have to fill out.

The bottom line: The IRS releases the new form this week. Though it is designed to be close to "postcard" size, it still needs to be mailed in an envelope to protect Social Security numbers and other private information.

But, but, but: More than 90% of taxpayers file their taxes online, according to efile.com. If the postcard encourages more people to file their taxes through the mail, the IRS could face extra work processing all that paper.

What they’re saying:

  • “It will be a postcard as we've promised, and hardworking taxpayers won't have to spend nearly as much time filling out their taxes,” Treasury Secretary Steve Mnuchin said about the new form.
  • The new form “only adds needless complexity and confusion. The longer Form 1040, which all taxpayers have used for decades, is being replaced with Republican mythology that will only complicate tax filing,” said Rep. Lloyd Doggett of Texas, the top Democrat on the Subcommittee on Tax Policy, per NYT.

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

Dave Lawler, author of World
5 hours ago - World

Uganda's election: Museveni declared winner, Wine claims fraud

Wine rejected the official results of the election. Photo: Sumy Sadruni/AFP via Getty

Yoweri Museveni was declared the winner of a sixth presidential term on Saturday, with official results giving him 59% to 35% for Bobi Wine, the singer-turned-opposition leader.

Why it matters: This announcement was predictable, as the election was neither free nor fair and Museveni had no intention of surrendering power after 35 years. But Wine — who posed a strong challenged to Museveni, particularly in urban areas, and was beaten and arrested during the campaign — has said he will present evidence of fraud. The big question is whether he will mobilize mass resistance in the streets.

Off the Rails

Episode 1: A premeditated lie lit the fire

Photo illustration: Sarah Grillo/Axios. Photo: Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. Axios takes you inside the collapse of a president with a special series.

Episode 1: Trump’s refusal to believe the election results was premeditated. He had heard about the “red mirage” — the likelihood that early vote counts would tip more Republican than the final tallies — and he decided to exploit it.

"Jared, you call the Murdochs! Jason, you call Sammon and Hemmer!”