If you earn tips or overtime, the IRS just made your 2025 tax season a little more interesting. A new draft form, Schedule 1-A, lets you claim deductions on those earnings, along with car loan ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income ... Taxpayers already are taking a below-the-line deduction on the 1040 form — after calculating their adjusted gross ...

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 ...

Joy Taylor: Yes. Taxpayers who itemize on Schedule A can deduct qualifying medical expenses to the extent that the total ...

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

IRS: Taxpayers looking to claim some of the new deductions tucked into the recently passed One Big Beautiful Bill Act will need to prepare for extra paperwork. The Internal Revenue Service has ...

Both the tax brackets and the standard deduction for the 2026 tax year, which is filed in 2027, have increased to reflect inflation. Other changes from the 'One Big Beautiful Bill' have also been ...