Internal Revenue: A Reformed Tax Form?

A Reformed Tax Form?

When President Reagan signed the Tax Reform Act last month he pronounced it "fair and simpler for most Americans." Fair, perhaps, but not simpler. The IRS last week ended such wishful thinking by unveiling a new, longer and more complicated Form W-4. After the forms go out to employers next month, 100 million working Americans will have to sit down with three pages of instructions and a worksheet to calculate how many exemptions to claim for their 1987 income tax withholding. The purpose of the voluminous instructions for the new W-4, IRS Commissioner Lawrence Gibbs says, is to help ensure that...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!