Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

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 ...

A provision of the Trump administration’s “One Big Beautiful Bill” act could lower taxes for some car buyers. The provision, in place for tax years 2025 to 2028, allows some buyers to deduct up to $10 ...

Millions of Americans over 65 will qualify for a new $6,000 deduction on their 2025 tax returns. This added relief comes as older adults continue to face mounting financial pressure from rising food, ...

The 2026 tax season started a week ago, on Jan. 26. There are a lot of changes taxpayers should know about before filing their 2025 taxes, changes that could save you money. While the impact — or how ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and other payers. However, rather than require more reporting this late in 2025, the IRS is ...