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 issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

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 ...

Some 'no tax on tips' occupations might surprise you: Podcasters, social media influencers, plumbers and house painters. The new, special tax break on tips is retroactive and applies to eligible tip ...

The Treasury Department released proposed regulations Friday on the "no tax on tips" provision of the One Big Beautiful Bill Act, outlining which types of jobs and tips would be eligible. Processing ...

NOTE: An earlier version of this story overestimated how much workers could save in federal taxes under President Donald Trump’s “big, beautiful bill” and did not apply progressive tax brackets. The ...

In a fiery address to Congress on Tuesday, President Donald Trump doubled down on his desire for no tax on tips as well as overtime pay and Social Security. The Trump speech reiterated a key campaign ...

Vice President Kamala Harris is rolling out a new policy position, saying she'll fight to end taxes on tips for service and hospitality workers. It's a proposal her opponent, former President Donald ...