LWH CPAs is a public accounting firm with four locations,
including Paris, Casey, and Tuscola, Illinois and Terre Haute, Indiana. We seek to be our clients’ most trusted
advisor and provide innovative solutions, while focusing on client needs,
quality, and timeliness. We provide a wide range of services, from tax planning
and compliance to auditing, accounting, payroll, and business valuation
services. Clients range from individuals
with small businesses to multi-state corporations.
This year, LWH is celebrating its 90th anniversary. To celebrate our anniversary, we are hosting
events in each city related to common QuickBooks mistakes and the effects of
the Tax Cuts and Jobs Act. Please
contact us for details if you are interested in attending any of our
presentations.
LWH was founded in 1928 and many things have changed over
the decades. One drastic change is the
length of the individual income tax packet.
In 1928, the individual income tax return packet was only three pages! The main form, schedules, and instructions
were each one page in length. See below
for a look at the 1928 tax return packet.
Today, the process is significantly more involved. The 2017 1040 is only two pages. However, this does not include countless
schedules and forms that are required to be attached to the main form. The instructions alone for the form are 107
pages.
Nothing is as simple as it used to be, but the IRS has been
working on significant changes to the 2018 form to help shorten it. Although
the 2018 Form 1040 has been condensed based on the drafts released, it will
still include countless additional schedules that may need to be attached. We are unlikely to have a tax form as simple
as the one below again.