The Internal Revenue Service issued guidance Friday for workers eligible to claim the deduction for tips and overtime income for tax year 2025. Notice 2025-69 provides clarification on how to ...

Tucked away among the 940 pages of President Donald Trump’s massive One Big Beautiful Bill Act (OBBBA) are an array of new tax write-offs, exemptions that Trump promised to enact while running for a ...

Treasury posted a preliminary list of occupations that customarily and regularly receive tips for purposes of the “no tax on tips” provision of H.R. 1, P.L. 119-21, commonly known as the One Big ...

A draft version of Form W-2, Wage and Tax Statement, for 2026 includes boxes and codes for reporting qualified tips and qualified overtime compensation that can be deducted temporarily under the ...

The massive federal spending and tax bill, dubbed the Big, Beautiful Bill, was signed into law by President Donald Trump on July 4th. The bill includes tax breaks for tipped workers, such as those in ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 income taxes next year. But which workers will qualify for the new deductions ...

The “No Tax on Tips” provision, passed and signed into law on July 4 as part of President Donald Trump’s One Big Beautiful Bill Act, allows eligible tipped workers to deduct a portion of their income ...

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 ...

A "no tax on tips" proposal has broad support among politicians and Americans across party lines, though critics – including a restaurant trade group – warn the tax break could be costly and apply ...

A bipartisan bill that passed the U.S. Senate by unanimous vote on May 20 could mean no income tax on tips for bartenders and restaurant workers, as well as other occupations that rely heavily on ...

Nixing income taxes was one of President Donald Trump's top policy promises during his 2024 election campaign, and the idea has also been embraced by Democrats. The No Tax on Tips Act would introduce ...

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing with the help of Democrats a top campaign promise of President Trump. Sen. Jacky Rosen (D-Nev.) brought the ...