Millions of Americans who work overtime shifts or receive tips will be eligible to claim new deductions on their 2025 tax ...

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 ...

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 ...

Benjamin Franklin coined the saying, “In this world, nothing is certain but death and taxes.” But what about when death and taxes coincide, such as when someone dies during the year and has a tax ...

Small businesses that are sole proprietorships, partnerships or limited liability corporations are allowed to deduct costs for workers' compensation insurance from their federal and state taxes. The ...

The nationwide tax filing deadline is just one day away on Tuesday, April 15. If you've left your filing to the last minute and need a refresher, Newsweek has broken down everything you need to know ...

The 1040 tax form is the form taxpayers use for filing federal taxes. It’s also a form that plenty of people have trouble filling out or understanding. In fact, back in 2018, Form 1040 received an ...

(NewsNation) — Most taxpayers will need to file their returns by April 15. Parents and guardians can take advantage of one or more child-related credits to get a tax break. Here’s how to claim the ...

Taxpayers often make mistakes when filing their taxes, such as inputting incorrect personal information or making math errors. Choosing the wrong filing status or claiming ineligible credits can lead ...

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