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 ...

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 ...

Influencers, rideshare drivers, performers, baristas and more will be covered under the “No Tax on Tips” policy passed as part of President Donald Trump’s recent spending bill, multiple reports ...

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 ...