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 ...

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

Last year, Americans reported losing more than $12.5 billion to fraud, according to the Federal Trade Commission (FTC). Consumers reported losing the most to investment scams, followed by imposter ...

Tax-related identity theft occurs when stolen Social Security numbers are used to file fraudulent returns and claim refunds. According to an interim report by the Treasury Inspector General For Tax ...

The recent IRS decision to allow religious organizations to endorse political candidates without losing their tax-exempt status contradicts a change to the tax code passed in 1954 known as the Johnson ...

President Trump signed his ‘one big, beautiful bill’ into law in a splashy Fourth of July ceremony, with a B-2 stealth bomber and jet fighters flying over the White House. Photo: Bonnie Cash/Press ...

File IRS Form 14039 (Identity Theft Affidavit) immediately to alert the IRS of suspected fraud. Respond to any IRS notices - do not ignore them, even if they reference a return you didn't file.

Tax Identity Theft on the Rise in 2025 - Clear Start Tax Urges Victims to Act Quickly to Limit IRS Damage IRVINE, CA / ACCESS Newswire / June 25, 2025 / Even after the April 15 deadline, tax identity ...