The Internal Revenue Service (IRS) is introducing a new form, Schedule 1-A, to streamline the process of claiming deductions for tips, overtime, auto loan interest, and senior benefits. This ...

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 ...

A provision of the Trump administration’s “One Big Beautiful Bill” act could lower taxes for some car buyers. The provision, in place for tax years 2025 to 2028, allows some buyers to deduct up to $10 ...

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 ...