President Trump discussed his "no tax on tips" plan in January. The IRS has released its guidance for the "no tax on tips" ...

The Internal Revenue Service (IRS) requires employers and employees alike to use specific tax forms to accurately record wages, benefits paid, taxes withheld, and other essential financial information ...

The provisions on tip and overtime compensation were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big ...

Employees have been wondering how they will determine the amount of their qualified tips and qualified overtime eligible for deduction under the ...

Millions of Americans who rely on tips and/or overtime to bolster their income could be impacted by the new advice.

The new IRS guidance (Notice 2025-69) clarifies how workers can claim the One Big Beautiful Bill Act's recently enacted ...

US Department of the Treasury and the Internal Revenue Service (IRS) released guidance to claim new tax deductions on tips ...

Since the enactment of the “One Big Beautiful Bill Act” (OBBBA) on July 4, 2025, employers have awaited guidance on ...

Under the One, Big, Beautiful Bill, workers may be eligible for new deductions for tax years 2025 through 2028 if they ...

For tax years 2025 -2028, the One Big Beautiful Bill Act (OBBBA) allows employees to take an above-the-line tax deduction on qualified overtime ...

W-2s and 1099s will not have new fields this year, but the IRS has now provided guidance on how employees can still claim tax deductions for tips ...