The IRS introduces Schedule 1-A for 2025, letting you deduct qualified tips, overtime pay, vehicle loan interest, and enhanced senior deductions, following the OBBBA legislation.

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 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 ...

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 ...

The IRS has released updated instructions and printable forms for the Schedule EIC and Earned Income Credit (EIC) tax forms for 2023 and 2024. TRAVERSE CITY, MI, US ...

Here are the tax rate schedules, tax tables and cost-of-living adjustments for 2026, including new and increased deductions ...

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 ...