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 broad tax package passed by House Republicans last week includes a bill that would eliminate federal income taxes on tips, advancing a key campaign promise from President Trump with unexpected ...

In a sweeping move set to reshape employee paychecks, the newly enacted One Big Beautiful Bill Act (OBBBA) introduces two significant federal tax deductions for hourly workers: one for overtime pay ...

New federal tax law allows deductions on tips and overtime starting with 2025 taxes Workers earning under $150K can deduct up to $25K in tips, $12.5K in overtime Qualifying jobs may include servers, ...

Taxes for tipped workers and people getting overtime are starting to look a lot nicer. After the House of Representatives passed a huge tax and spending bill Thursday, the major question is what will ...

The massive Republican-backed budget bill — called "one big, beautiful bill" by President Trump — includes several new tax rules that could have a big financial impact on millions of workers who earn ...