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 ...

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 ...

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 ...

On November 21, 2025, the Internal Revenue Service (IRS) issued Notice 2025-69, providing guidance and clarification on the new federal income tax deductions for employee tips and certain overtime ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

The tax break on tip income is not automatic. You need to file a new form. The U.S. Treasury Department has a list of dozens of occupations that 'customarily and regularly received tips' that qualify ...

The One Big Beautiful Bill Act introduces several changes for the 2025 federal income tax filing season. Standard deduction amounts will increase for all filing statuses, including to $31,500 for ...

That headline number is driving intense interest among waitstaff, bartenders, delivery workers, hairstylists, casino dealers, and other tipped employees ahead of the 2025 tax filing season. The new ...

Brand new rules for tax breaks on overtime and tip income are bound to drive taxpayers bonkers when trying to file their 2025 federal income tax returns next year. Expect to face far more work and ...