The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and ...

High earners are not eligible to claim the new $6,000 senior tax deduction. Single filers must have annual incomes under $75,000 to claim the full deduction, while married couples must have incomes ...

Aside from no tax on tips and no tax on overtime, here are the other new and enhanced deductions this year: No Tax on Car Loan Interest: Individuals may deduct interest paid on a loan used to purchase ...