New IRS form Schedule 1‑A unlocks 4 major tax deductions for 2025

Millions of taxpayers are using a new IRS form to claim deductions for tips, overtime, car loan interest, and seniors. What ...
JournalofAccountancy

New Schedule 1-A for tips, OT, car loans, and senior deductions published

The IRS published Schedule 1-A (Form 1040), Additional Deductions, along with updated instructions for Form 1040, U.S. Individual Income Tax Return, that explain how taxpayers can claim the new ...

IRS Tax Filing: What to Know About 1040 Forms

The tax filing deadline for income earned in 2024 is Tuesday, April 15.
Forbes

A First Look At The New Tax Form For Claiming Deductions For Tips, Overtime, Car Interest And Seniors

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

What Is a 1040 Tax Form and How Does It Work?

Form 1040 is a federal income tax form that most people use yearly to report their tax information to the IRS. Taxpayers fill out the form, listing their income and any tax deductions or credits ...