• videocam Live Webinar with Live Q&A
  • calendar_month January 20, 2027 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparation - Individual
  • schedule 110 minutes

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

Meeting Reporting and Compliance Requirements

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$167.45
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Discount expires 1/6/27

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About the Course

Introduction

This CPE webinar will explain the deductions reported on Schedule 1-A, Additional Deductions, including those for qualified tips, qualified overtime compensation, car loan interest, and eligible seniors. Our knowledgeable tax professional will discuss IRS guidance issued for these provisions and provide practical recommendations for determining eligibility, calculating deductions, and satisfying reporting requirements.

Description

Schedule 1-A is now a critical component of individual return preparation for taxpayers seeking benefits enacted under the One Big Beautiful Bill Act. Particular attention must be given to the treatment of qualified tips, overtime compensation, and car loan interest, each of which is subject to distinct statutory requirements and reporting rules.

The enhanced deduction for seniors presents additional planning opportunities and compliance considerations. Tax practitioners must carefully evaluate age-based qualification requirements, phaseout calculations, filing-status considerations, and the interaction of the deduction with broader tax-planning strategies. For taxpayers claiming tip and overtime deductions, practitioners must also navigate evolving IRS guidance addressing employer reporting, transitional relief, and substantiation requirements. IRS Notice 2025-69 clarifies information reporting and deduction computations that will directly affect return preparation and review procedures.

Listen as our accomplished panelist discusses Schedule 1-A reporting requirements, analyzes recent IRS guidance and implementation developments, and offers practical strategies for maximizing eligible deductions while meeting compliance obligations.

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 20, 2027

  • schedule

    1:00 PM ET/10:00 AM PT

I.    Schedule 1-A overview and first filing season considerations

II.    Qualified tip deduction

III.    Qualified overtime deduction

IV.    Car loan interest deduction

V.    Enhanced deduction for seniors

VI.    IRS guidance and compliance developments

VII.    Documentation and substantiation recommendations

The panel will review these and other key issues:

  • Preparing and reviewing Schedule 1-A, Additional Deductions
  • Calculating MAGI and applying income-based phaseout rules
  • Determining eligibility for tip and overtime deductions
  • Qualifying for the enhanced deduction for seniors
  • Evaluating eligibility for the car loan interest deduction
  • Applying recent IRS guidance and reporting relief provisions

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 .