BarbriSFCourseDetails
  • videocam Live Online with Live Q&A
  • calendar_month January 14, 2026 @ 1:00 p.m. ET./10:00 a.m. PT
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Preparing New Schedule 1-A: New Tips, Overtime, Car Interest, and Senior Deductions

Meeting Reporting and Compliance Requirements

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$167.45
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Discount expires 12/4/25

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About the Course

Introduction

This webinar will explain the new deductions under the One Big Beautiful Bill Act (OBBBA), including those for seniors, car loan interest, tips, and overtime payments. Our panel of knowledgeable tax professionals will walk tax practitioners through completing the new Schedule 1-A and make recommendations for complying with the new provisions.

Description

New Schedule 1-A, Additional Deductions, will be required for 2025 to report the new deductions included in the OBBBA. Part I requires a calculation of modified adjusted gross income (MAGI), used to determine limitations on the new deductions, and Parts II - V include sections for calculating the new deductions, no tax on tips, no tax on overtime, no tax on car loan interest, and the enhanced deduction for seniors, respectively. These deductions can provide valuable tax savings for eligible taxpayers. 

The enhanced deduction for seniors, for example, allows taxpayers age 65 or older a $6,000 deduction in addition to the standard deduction. To qualify, the taxpayer's modified adjusted gross income must be $75,000 or less if single or $150,000 or less if a joint return is filed.

In addition to understanding the requirements for the new deductions, tax practitioners face challenges complying with them. The IRS recently released Notice 2025-62, which provides penalty relief for employers required to report tips and overtime earned by employees. However, employers won’t be penalized for failure to report these amounts in 2025. Taxpayers and providers need to take appropriate steps to determine eligibility and deductible amounts correctly. 

Listen as our panel of federal tax reporting experts discusses qualifications and reporting requirements for the new OBBBA deductions on Schedule 1-A and offers tax practitioners advice to ensure reporting obligations are met and taxpayers fully benefit from these tax-saving deductions. 

Presented By

Larry Pon
CPA/PFS, CFP, EA, USTCP, AEP
Pon & Associates, CPA

Mr. Pon has been in practice since 1986 providing comprehensive accounting, tax, payroll, and business advisory services. He specializes in tax preparation, tax representation, tax planning, business planning, financial planning, and estate planning. Services include IRS and state audit representation, business startup services, and charitable planning. Mr. Pon is a frequent author and lecturer to financial and legal professionals and the public on tax and financial planning topics.

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Wednesday, January 14, 2026

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

I. Preparing new Schedule 1-A: introduction

II. No tax on tips

III. No tax on overtime

IV. No tax on car loan interest

V. Enhanced deduction for seniors

VI. Compliance complexities and recommendations

VII. Preparing new Schedule 1-A, Additional Deductions

The panel will cover these and other critical issues:

  • Qualifying for the new senior deduction
  • Determining eligibility and deductible amounts for tips and overtime
  • Preparing new Schedule 1-A, Additional Deductions
  • Eligibility requirements for deducting car loan interest

Learning Objectives

After completing this course, you will be able to:

  • Identify car loan interest that qualifies for the new deduction under OBBBA
  • Determine how MAGI limitations impact the new OBBBA deductions
  • Decide which senior taxpayers are eligible for the new senior deduction
  • Ascertain how to determine eligibility for tips and overtime deductions


  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite:

    Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of individual income taxation, including itemized deductions, individual income tax credits, net operating loss limitations including carrybacks and carryforwards.


BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .