IRS: Learn how to claim new tax deductions available in the IRS Schedule 1-A, covering tips, overtime pay, car loans, and ...

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.

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 ...