Albany politicians are swearing a lot. Using blunt language experts say are an attempt to seem relatable and shape their ...

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 ...

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 ...

An emergency bill passed in Washington, DC, axing key tax breaks touted in the One Big Beautiful Bill Act for its residents highlights why Americans should pay attention to state tax laws, experts ...

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 ...

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.

Tucked away among the 940 pages of President Donald Trump’s massive One Big Beautiful Bill Act (OBBBA) are an array of new tax write-offs, exemptions that Trump promised to enact while running for a ...

The Republican-backed fiscal package signed into law by President Trump on July 4 includes a temporary tax break that stands to benefit millions of Americans: a provision that allows eligible workers ...

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 ...

The massive federal spending and tax bill, dubbed the Big, Beautiful Bill, was signed into law by President Donald Trump on July 4th. The bill includes tax breaks for tipped workers, such as those in ...

The “No Tax on Tips” provision, passed and signed into law on July 4 as part of President Donald Trump’s One Big Beautiful Bill Act, allows eligible tipped workers to deduct a portion of their income ...