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 ...
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IRS launches new form for 2025 deductions, including tips and overtime pay
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.
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IRS Schedule 1-A explained: How to claim tax breaks for tips, overtime, car loans, and seniors
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 ...
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 ...
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