A, Additional Deductions. You’ll use it to calculate new deductions for tips, overtime, car interest, and seniors.

The IRS has unveiled a draft of the new Schedule 1-A form, set to simplify claiming deductions for tips, overtime, auto loan interest, and senior benefits. As part of the OBBBA, this form aims to ease ...

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

IRS: Learn how to claim new tax deductions available in the IRS Schedule 1-A, covering tips, overtime pay, car loans, and enhanced deductions for seniors.

The Internal Revenue Service (IRS) has recently released the updated Schedule 1 tax form and instructions for the years 2023 and 2024. TRAVERSE CITY, MI, US, January ...

The IRS is getting on with it quietly and rewriting a section of the tax playbook. This month, the agency published a draft ...

IRS tax breaks for workers are here. Millions can now keep more of their tips and overtime pay. New deductions for 2025–2028 ...

Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

Wondering how the new mega tax law will affect your paycheck and taxes? Some of the answers lie in the new W-2 form employees will start getting for tax year 2026. The new forms show how new laws, ...