The IRS on Friday released a draft of Schedule 1-A (Form 1040), a single form that consolidates the calculations of the four ...

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.

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

As tax season approaches, it's crucial to stay informed about the latest updates to IRS Form 1040 and its schedules.

The Internal Revenue Service has posted a draft version of Schedule 1-A that will be used next tax season when claiming new ...

The IRS 'No Tax on Tips' rule under the One Big Beautiful Bill Act provides a tax deduction for qualified tips, helping ...

IRS rolls out Schedule 1-A for 2025, adding new deductions for tips, overtime, car loans on U.S.-made vehicles, and enhanced breaks for seniors.

Joy Taylor: The tips deduction begins to phase out at modified AGI over $300,000 for joint filers and $150,000 for other filers. More specifically, the write-off is reduced, but not below zero, by ...

Plus: Lost refund checks, new addresses at the IRS, Taxpayer Assistance Centers are closing, gambling and the IRS, tax ...

IRS: The IRS is introducing Schedule 1-A for 2025 tax returns, offering new deductions for qualified tips, overtime pay, car ...