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

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 ...

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

The "no tax on tips" law was a provision included in President Donald Trump's signature "One Big Beautiful Bill Act," and was ...

Under the new guidance, workers in specific occupations where tips were customarily and regularly received before 2025 may ...

IRS relaxes ‘no tax on tips law’ so more workers can take advantage. Here’s who will benefit - Treasure Department’s tax ...

The agency is delaying implementation of a provision of the new law that prevents workers in certain service businesses from ...

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

The Internal Revenue Service has released a draft version of the 2026 Form W-2, Wage and Tax Statement, with new fields added to prepare the way for the tax exemptions on tips and overtime income ...

The new guidance grants employees and employers “transition relief” until Jan. 1 of the first calendar year after final rules ...

The IRS says it’s in the process of updating income tax forms and instructions for taxpayers to use this filing season that ...