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Go deeper: See the new income tax forms

Man holding up postcard size paper.
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.