The IRS said that people with home-based businesses can choose a “new simplified option” for claiming the deduction for business use of a home.

According to the IRS, “The new optional deduction, capped at $1,500 per year based on $5 a square foot for up to 300 square feet, will reduce the paperwork and recordkeeping burden on small businesses by an estimated 1.6 million hours annually. The new option is available starting with the 2013 return taxpayers are filing now.”

Further details on the home office deduction and the new option can be found in Publication 587.