Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

The IRS introduces Schedule 1-A for 2025, letting you deduct qualified tips, overtime pay, vehicle loan interest, and enhanced senior deductions, following the OBBBA legislation.

A, Additional Deductions. You’ll use it to calculate new deductions for tips, overtime, car interest, and seniors.

The IRS has unveiled a draft of the new Schedule 1-A form, set to simplify claiming deductions for tips, overtime, auto loan interest, and senior benefits. As part of the OBBBA, this form aims to ease ...

Taxpayers and tax professionals can now access the latest IRS printable PDF 1040 tax schedules. TRAVERSE CITY, MI, UNITED STATES, October 24, 2024 /EINPresswire.com ...

Many IRS workers are furloughed due to the government shutdown, but taxpayers are still required to file their extensions this week.

Missing IRS deadlines can carry financial consequences. Failure to file and pay a tax return on time can result in a penalty ...

WASHINGTON - Tax season is in full swing, and the IRS anticipates that 140 million individuals will file returns by April 15. Here's the IRS tax refund schedule for 2025 and other information that ...

The Internal Revenue Service (IRS) has released the tax refund schedule for the year 2024. TRAVERSE CITY, MI, US, January 22, 2024 /EINPresswire.com/ -- The Internal ...