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 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 ...

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 ...

IRS Form 5498 is one of the most overlooked but critically important IRA forms. While Form 1099-R usually gets attention during tax time for reporting distributions, Form 5498 plays a ...

Child care is expensive — and if you’re a working parent or caregiver, you’ve probably felt the sting. But here’s the good news: if you paid for child or dependent care so you could work or look for ...

Corrections & Clarifications: This story was updated to correct the deadline to file past due returns for 2021, which is April 18. With the clock ticking on tax season, the IRS is reminding Americans ...