The Internal Revenue Service (IRS) requires employers and employees alike to use specific tax forms to accurately record wages, benefits paid, taxes withheld, and other essential financial information ...
The IRS released new guidance for no tax on tips and overtime deductions under the One Big Beautiful Bill Act. Eligible ...
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 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 ...