Millions of Americans who rely on tips and/or overtime to bolster their income could be impacted by the new advice.
On November 21, 2025, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury released guidance outlining how workers can calculate their tax deduction for tips and overtime pay for ...
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 ...
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