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 ...

Roughly 6 million people reported income from tips on federal income tax returns in the past — and you can bet they'll jump at the chance to see a bigger refund by claiming a new deduction on tip ...

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 ...

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 ...

A new tax form, Schedule 1-A, introduces four new deductions for the 2025 tax year. All four write-offs are "below-the-line" deductions, which reduce taxable income but not adjusted gross income. Each ...

On March 2, 2026, the Internal Revenue Service released Schedule 1‑A (Form 1040) and accompanying updates to the Form 1040 Instructions implementing several new individual tax deductions enacted under ...

The IRS has released a new Schedule 1-A for tax year 2025 tied to the “One, Big, Beautiful Bill,” offering deductions for tips, overtime pay, car loan interest, and seniors. Eligible workers can ...

The Internal Revenue Service has published a new Schedule 1-A and updated instructions for claiming the new tax breaks in the One Big Beautiful Bill Act for tips, overtime, car loans, and senior ...