The Internal Revenue Service (IRS) is introducing a new form, Schedule 1-A, to streamline the process of claiming deductions for tips, overtime, auto loan interest, and senior benefits. This ...

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 ...

Form 1099-K is used to report payments received for goods or services processed through payment apps, online marketplaces, and credit cards. The IRS has issued FAQs to explain when you might get one.

Knowing when to issue which kind of 1099 form to someone you paid money to can be a mystery to small business owners, but ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Many people will soon be filing their 2024 tax returns by the ...

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 ...