Millions of taxpayers are using a new IRS form to claim deductions for tips, overtime, car loan interest, and seniors. What is Schedule 1-A?

Millions of workers saw bigger refunds or smaller tax bills after claiming a new overtime deduction. But some ask why so many ...

The overtime deduction is an option whether a taxpayer claims the standard deduction or itemizes deductions, such a deducting mortgage interest. It's a mixed bag when it comes to what employers are ...

As the tax-filing deadline nears, millions of Americans are expected to claim new federal income tax breaks for tips and ...

Under Notice 2025-62, the Internal Revenue Service provided guidance to employers whose employees receive tips or overtime as to the procedures to follow for documenting qualified tips and qualified ...