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 ...
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 ...
How does the IRS define a crypto broker? The definition of the term “broker” includes individuals or entities that regularly provide services to carry out digital asset transfers. This definition ...
The Research Tax Credit for federal purposes has been around since 1981, and the form to report qualified research expenditures has been in existence since at least 1990. Form 6765, which has changed ...
Elon Musk's Department of Government Efficiency (DOGE) is attempting to gain access to an Internal Revenue Service (IRS) system that holds personal taxpayer data on millions of Americans, The ...
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