There will be no tax on tips and no tax on overtime this tax season. Here's what to know about deductions and who qualifies ...

"No Tax on Overtime" is a provision included in the tax reform bill known as the One Big Beautiful Bill Act, which passed in ...

President Donald Trump’s promise to eliminate taxes on tips may sound like a windfall for service workers — but the fine print in Congress’ latest tax bill tells a more complex story. Back in January ...

The tip deduction doesn’t completely eliminate taxes on tips. The deductible amount is limited, it isn’t available to every ...

Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

Corrections & Clarifications: An earlier version of this article gave incorrect information about gifts being subject to income taxes. Since President Donald Trump first proposed exempting tips from ...