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

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 ...

Seniors 65 and older can claim a new federal tax deduction up to $6,000 for 2025, but it's not automatic. Learn how to get this tax break and avoid missing out.

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 ...

Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...