The IRS has released guidance for President Donald Trump's tips and overtime deductions. Here's what workers need to know.

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 ...

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

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 ...

The Trump administration threw a bit of a wrinkle into the implementation of the “no tax on tips” provision on Friday.

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

The new tax break on tips and overtime has been sold as a windfall for workers who stay late, pick up extra shifts, or live ...

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

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

Plus: The IRS has reopened, some tariffs have been reversed, tax filing status and marriage, professional sports stadiums on the public dime, tax trivia and more.

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

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