The IRS has released Notice 2025-69, which provides guidance for workers claiming the new deductions for qualified tips and qualified overtime compensation for tax year 2025.
The IRS has issued guidance on how millions of US workers can claim deductions on cash tips and overtime income for the 2025 tax year, with actual use cases provided.
The IRS released new guidance for no tax on tips and overtime deductions under the One Big Beautiful Bill Act. Eligible workers can claim up to $25,000 for tips and $12,500 for overtime.
The Internal Revenue Service signaled that it is relaxing enforcement of the new “no tax on tips” law, allowing more workers to potentially take advantage of the break. The agency said Friday ...
In the final stop of the Harris-Walz introductory tour, Vice President Kamala Harris said that, if elected, she would end federal income tax on tips, mirroring a proposal made by former President ...
