The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and ...

The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

The new form focuses on deductions related to tips, overtime pay, car loan interest, and benefits for seniors. These changes were created under a law called H.R. 1, P.L. 119-21, which is also known as ...

New IRS Schedule 1-A for 2025 introduces 4 new deductions for tips, overtime, car loan interest and seniors. These changes ...

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 ...

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 ...

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 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 ...

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 ...