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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 ...

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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 ...

Some 'no tax on tips' occupations might surprise you: Podcasters, social media influencers, plumbers and house painters. The new, special tax break on tips is retroactive and applies to eligible tip ...

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 ...

It’s no surprise that restaurant servers, manicurists, rideshare drivers and dogwalkers are among the workers who won’t have to pay federal tax on their tip income for the next four years, according ...

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 ...

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 ...

President Trump's promise to eliminate federal income tax on worker tips will become a reality Friday when he signs the massive budget package into law. After narrowly squeaking through the House on ...