Trump’s tax bill carved out several areas for tipped workers and older adults, among others, to lower their tax bills ...

If an hourly employee works beyond 40 hours in a week, they are entitled to overtime pay. However, if that employee performs different roles at different pay rates, you may have to use a “blended rate ...

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

Millions of Americans may pay less tax in 2025 as the IRS explains how workers can claim new deductions on tips and overtime ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and other payers. However, rather than require more reporting this late in 2025, the IRS is ...

The Internal Revenue Service and U.S. Department of the Treasury have released new guidance on how tips and overtime are taxed — potentially offering significant savings for millions of workers Under ...

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 ...

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 ...

One of the signature provisions in the recently passed tax bill is the so-called “no tax on tips and overtime.” While there are some limitations, this change could deliver meaningful benefits for ...