The Internal Revenue Service issued guidance Friday for workers eligible to claim the deduction for tips and overtime income for tax year 2025. Notice 2025-69 provides clarification on how to ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. EMS-FORSTER-PRODUCTIONS/Getty ...

Treasury posted a preliminary list of occupations that customarily and regularly receive tips for purposes of the “no tax on tips” provision of H.R. 1, P.L. 119-21, commonly known as the One Big ...

NOTE: An earlier version of this story overestimated how much workers could save in federal taxes under President Donald Trump’s “big, beautiful bill” and did not apply progressive tax brackets. The ...

A "no tax on tips" proposal has broad support among politicians and Americans across party lines, though critics – including a restaurant trade group – warn the tax break could be costly and apply ...

Hourly workers in the service, hospitality, and retail industries overwhelmingly back President Donald J. Trump’s bold NO TAX ON TIPS plan in the One Big Beautiful Bill, according to a new survey — ...

The proposed tax break allows tipped workers to deduct reported tips from their earned income, potentially lowering their taxable income. The deduction applies only to cash tips and excludes noncash ...

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing a key campaign promise of President Trump’s, with the help of Senate Democrats. Sen. Jacky Rosen (D-Nev.) ...

Not all the Trump promises to cut tax on tips, overtime and Social Security made it into the proposed tax bill—and those provisions that did make it in are temporary and have restrictions. Days after ...

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