Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...
Man selecting 20% tip while using a handheld credit card scanner at a restaurant in Queens, New York. Man selecting 20% tip while using a handheld credit card scanner at a restaurant in Queens, New ...
The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing a key campaign promise of President Trump’s, with the help of Senate Democrats. Sen. Jacky Rosen (D-Nev.) ...
Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...
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 ...
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 ...
President Donald Trump in late January reiterated his pledge to end taxes on tips during a Nevada rally, echoing a campaign promise he debuted while campaigning there. Speaking at the Circa resort and ...
Many service workers are eagerly awaiting no longer paying taxes on their tips. Yet the fine print in Republicans’ new law could limit savings for some waiters, bartenders and others. Among the ...
IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...
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