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 ...

Will you stop paying taxes on your tip income? New tax rules may allow some workers to reduce their tax liability on ...

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 ...

A proposal in Governor Hochul’s budget calls for tips to not be taxed on 2026 returns. One tax expert says those who would be affected most may not get the full benefits.

Learn how the new ‘no tax on tips’ deduction can reduce your federal taxable income by up to $25,000 if you earn tips at work. “No tax on tips” is the name given to a new tax deduction for tip income ...

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.

Maximum deduction: $25,000 per year, phased out for taxpayers with income above $150,000 (single) or $300,000 (joint). The deduction is above-the-line, available even to those who do not itemize. Must ...

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 ...

Clowns entertain crowds at local fairs by twisting skinny balloons into poodles and swords. And now, the dollar bills thrown into that top hat on the ground could fall into the new "no tax on tips" ...

While President Donald Trump’s “One Big Beautiful Bill Act” (OBBBA) has threatened the livelihoods of professional gamblers, it is turning out to be a likely boon for casino workers. According to ...

Question: I am a restaurant owner in Pacific Grove with approximately 15 employees. I just discovered (after five years in business!) that I can receive a tax credit for the payroll taxes I pay on the ...