President Donald Trump delivered on his promise to exempt tips from taxes but critics say the “Big Beautiful” policy may deliver a smaller advantage than expected — and could hurt the very workers ...

Brand new rules for tax breaks on overtime and tip income are bound to drive taxpayers bonkers when trying to file their 2025 federal income tax returns next year. Expect to face far more work and ...

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 ...

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 ...

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 ...

During the time of year when decorations adorn countless places, and Christmas music plays nonstop from speakers almost everywhere, many people are just barely hanging on. While holidays can be a ...

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SPRINGFIELD, Ill. (WTVO) — Illinois tipped workers hoping for a break under the new federal tax law are in for a surprise: the state will continue taxing tips. Illinois has rejected adopting a new ...

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WASHINGTON — President Donald Trump’s promise for “no tax on tips” has raised important practical questions for the IRS. What is the exact definition of a tip? Who typically receives them? Are photos ...