Millions of Americans may pay less tax in 2025 as the IRS explains how workers can claim new deductions on tips and overtime ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

The Internal Revenue Service and the Treasury have issued guidance for taxpayers to claim the deductions for tips and overtime pay from the One Big Beautiful Bill Act. Processing Content The two ...

If an hourly employee works beyond 40 hours in a week, they are entitled to overtime pay. However, if that employee performs different roles at different pay rates, you may have to use a “blended rate ...

Voters have heard the slogan so often it sounds like settled law: no taxes on tips, overtime, or Social Security. The reality ...

The IRS has released its guidance for the “no tax on tips” and “no tax on overtime” provisions of the One Big Beautiful Bill Act (OBBBA), for workers who can claim the deductions for the 2025 tax year ...

Certain workers may now be able to keep more of what they earn, but what does “no tax on tips” really mean for employees and their employers? The “One Big Beautiful Bill” recently passed by the U.S.