Section 224 was pitched as relief for tipped workers. But evolving IRS guidance and technical limitations have made the deduction far more complicated for the self-employed. The One Big Beautiful Bill ...

The tax break on tip income is not automatic. You need to file a new form. The U.S. Treasury Department has a list of dozens of occupations that 'customarily and regularly received tips' that qualify ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

The much-touted new tax breaks for tips, overtime, seniors and car loan interest have a lot of income tax filers expecting a big bump in their refunds this year – or a big cut in their tax bill. That ...

President Trump at a rally Saturday promised to fulfill his campaign pledge to eliminate taxes on tips. "In the coming weeks, I'll be working with Congress to get a bill on my desk that cuts taxes for ...