This tax season is shaping up to be one of the most unique in history. With the passage of the One Big Beautiful Bill Act (OBBBA) last July, millions of Americans are eligible for brand-new deductions—but only if they have the paperwork to prove it.
Gone are the days of just grabbing your W-2 and hitting “submit.” To claim the new benefits for overtime, tips, and American-made cars, you need specific documentation.
Here is your essential checklist to prepare for filing your 2025 return.
1. Income Documents: Look for New Codes
Your standard income forms are still required, but they may look a little different this year.
- Form W-2: This is the big one. If you worked overtime, check for a new box or code (often Box 14 or a separate statement) that specifically breaks out “Qualified Overtime Compensation.” You need this figure to claim the new “No Tax on Overtime” deduction (capped at $12,500 for singles).
- Form 1099-K / Tip Logs: For service industry workers claiming the “No Tax on Tips” deduction, you must have a record of your “customary and regular” tips. Don’t rely solely on your employer; keep your daily tip log handy to reconcile against your W-2 or 1099.
- 1099-NEC / 1099-MISC: For freelancers and gig workers.
2. The “US Auto Loan” Deduction Pack
One of the most talked-about perks of the OBBBA is the ability to deduct interest on car loans for vehicles assembled in the USA. To claim this (up to $10,000 in interest), you need three things:
- The Loan Interest Statement: Your lender should send a form (likely a variation of Form 1098) showing the total interest paid in 2025.
- The VIN (Vehicle Identification Number): You must enter this on your tax return.
- Proof of Final Assembly: Keep your “Monroney label” (the window sticker) or a bill of sale that explicitly states the “Final Assembly Point” was in the United States. The IRS may request this if you are audited.
3. Family & Dependent Records
The Child Tax Credit (CTC) has increased to $2,200, and eligibility rules have tightened.
- Social Security Cards: Ensure you have the physical cards or verified numbers for every dependent. The new law requires a valid SSN (not just an ITIN) for the child and the claiming parent to receive the full benefits.
- Proof of Birth for the “Newborn Bonus”: If you welcomed a child in 2025, have the birth certificate ready to claim the additional $1,000 bonus payment introduced by the OBBBA.
4. Senior Deduction Documents (Age 65+)
Seniors now get an extra $6,000 deduction on top of the standard deduction.
- Proof of Age: Usually, the IRS verifies this automatically via Social Security records, but if you recently turned 65, ensure your date of birth is correct on your 1040 form to trigger this automatic deduction.
5. Standard Deduction vs. Itemizing
The Standard Deduction has jumped significantly for 2025 (approx. $15,750 for singles and $31,500 for couples).
- Receipts for Itemizing: Because the standard deduction is so high, fewer people will need to itemize. However, if you have high mortgage interest or charitable donations, keep those Form 1098s and donation receipts just in case itemizing still beats the new standard rate.
6. Identity Protection
- IP PIN Letter: If you opted into the IP PIN program (as recommended!), find the CP01A Notice sent to you in January 2026. You cannot file your return without this 6-digit code.
Summary Checklist
| Document | Why You Need It |
| W-2 (with OT code) | To claim the “No Tax on Overtime” break. |
| Tip Log / 1099 | To claim the “No Tax on Tips” deduction ($25k cap). |
| Vehicle Window Sticker | To prove US assembly for the car loan interest deduction. |
| Lender Interest Stmt | To show how much car loan interest you paid. |
| SSNs (Parent & Child) | Mandatory for the $2,200 Child Tax Credit. |
| IP PIN | To verify your identity and unlock your return. |
Not sure exactly which documents you need? Give us a call at (603) 501-7100 or reach out at info@tortolanoandco.com. We look forward to seeing you soon to prepare your 2025 tax return!