Traditionally, all tip income was taxable, and workers had to report any cash tips exceeding $20 per month to their employer. But in 2025, the One Big Beautiful Bill introduced temporary exemptions: ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

The IRS has released guidance for the federal tips and overtime deductions enacted via President Donald Trump's "big beautiful bill." However, reporting requirements for 2025 could cause confusion for ...