Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

Tax filing season is officially underway, and with it comes a new addition to the federal Form 1040. Schedule 1-A (Form 1040) is used for new deductions stemming from the One Big Beautiful Bill Act ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

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 ...

Millions of people in the U.S. are filing a new tax form called Schedule 1-A for the 2025 tax season. This new form is needed to claim some big new tax breaks given by the law called the One Big ...

The IRS published Schedule 1-A (Form 1040), Additional Deductions, along with updated instructions for Form 1040, U.S. Individual Income Tax Return, that explain how taxpayers can claim the new ...

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 ...

Tens of millions of taxpayers found themselves filing a brand new form called Schedule 1-A so far this tax season to claim some generous new tax breaks on their 2025 federal income tax returns. If you ...

A new tax form, Schedule 1-A, must be filed with 2025 returns to claim several new deductions. These new tax breaks include deductions for qualified tip income, overtime pay, and new car loan interest ...