The IRS has unveiled a draft of the new Schedule 1-A form, set to simplify claiming deductions for tips, overtime, auto loan interest, and senior benefits. As part of the OBBBA, this form aims to ease ...
Seniors on a fixed income can find relief from tax debt through various IRS programs. Find out more about these opportunities ...
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IRS one-time forgiveness explained: Who qualifies and how it works
The IRS “one-time forgiveness” refers to the First-Time Penalty Abatement program, offering relief from certain penalties for compliant taxpayers.
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New deadline: IRS accepts feedback on Form 6765 until March 31, 2026
The IRS has extended the comment period for Form 6765 draft instructions on the Credit for Increasing Research Activities to ...
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New IRS form lets taxpayers claim 2025 deductions on tips, overtime pay, car loan interest
Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...
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 ...
Logan Allec, CPA is the founder, owner, and president of tax relief services company Choice Tax Relief, which serves clients nationwide. For most small business owners, success is typically followed ...
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