The clock is ticking on 2025 payroll reporting, but the IRS just threw employers a lifeline. If your organization has been struggling to understand how to implement the new tips and overtime reporting ...

If you earn tips as part of your job, you could benefit from a new IRS provision that excludes certain tips from income taxes. This rule, established under the One Big Beautiful Bill Act (OBBBA), ...

Democratic members of Nevada’s federal delegation urged the Department of Treasury to address possible shortfalls of the ‘No Tax on Tips’ policy as it’s implemented. The major reconciliation package ...

The IRS has released new guidance to help taxpayers who are eligible to claim the deduction for tips and for overtime compensation for tax year 2025. (The guidance to help employers and other payers ...

One of the components of the recently passed "big, beautiful bill" was the implementation of a policy not to tax overtime and tips for many Americans. President Donald Trump campaigned on a promise of ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and other payers. However, rather than require more reporting this late in 2025, the IRS is ...

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 ...

Roughly 6 million people reported income from tips on federal income tax returns in the past — and you can bet they'll jump at the chance to see a bigger refund by claiming a new deduction on tip ...

The One Big Beautiful Bill Act of 2025 introduced Section 224 of the Internal Revenue Code, establishing a below-the-line deduction for qualified tip income. P. L. 119-21, § 70201, 139 Stat. 72, ...

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 ...

A new law eliminates federal taxes on up to $25,000 in tips and $12,500 in overtime for certain workers, including hospitality staff. Asheville hospitality workers express concerns about the law's ...

The final regulations list more than 70 separate occupations of tipped workers from bartenders to clowns to golf caddies to locksmiths to massage therapists. Tip income involving "service charges" ...