In 2025, the IRS will implement a new tax break that allows certain workers to deduct up to $25,000 of tip income, potentially reducing their taxable income. USA Today reports that the tax break will ...
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 ...
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