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 ...

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 Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

In this week's Ask the Editor Q&A, Joy Taylor answers questions on the tax deduction for medical expenses, from Medicare ...