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The Internal Revenue Service is taking steps to make sure taxpayers and tax preparers can reflect OBBBA changes in 2025 tax returns.

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 ...

IRS tax breaks for workers are here. Millions can now keep more of their tips and overtime pay. New deductions for 2025–2028 make it easier to reduce taxable income, save money, and help working ...

Some taxpayers who filed "bare trust" forms to the Canada Revenue Agency last year may have done so needlessly as the federal government examines further changes to the reporting requirements — ...

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 ...

ROME (Reuters) -Italy's tax take is rising faster than expected thanks to job growth and inflation, putting the budget deficit on track to dip below the European Union ceiling of 3% of gross domestic ...

IRS: Taxpayers looking to claim some of the new deductions tucked into the recently passed One Big Beautiful Bill Act will need to prepare for extra paperwork. The Internal Revenue Service has ...

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

The law, conceived under the One Big Beautiful Bill Act of 2025, is set to take effect in tax years 2025 to 2028. For now, however, it still is in a draft form, but is making waves throughout ...