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.
The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...
The IRS has rolled out an early draft of Schedule 1-A, a new form that will need to be filed with 2025 federal income tax returns. The form is tied to the recently passed One Big Beautiful Bill Act ...
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.
IRS tax breaks for workers are here. Millions can now keep more of their tips and overtime pay. New deductions for 2025–2028 make it easier to reduce taxable income, save money, and help working ...
The IRS has released drafts of some 2025 tax forms, including the new Schedule 1-A, Additional Deductions. You’ll use Schedule 1-A to calculate new deductions for tips, overtime, car interest, and ...
Plus: Proposed regulations for “no tax on tips,” new tax forms, Roth catch-up contributions, charitable donation deductions, ...
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 ...
IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...