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 ...

On November 13th, the IRS released a number of inflation adjustments for 2026, including to certain limits for qualified retirement plans. The table below provides an overview of the key adjustments ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. IRS ...

The agency is delaying implementation of a provision of the new law that prevents workers in certain service businesses from ...

The IRS says it’s in the process of updating income tax forms and instructions for taxpayers to use this filing season that ...

Eli Lilly Stock Closes Above $1 Trillion After Climbing $400 Billion in 3 Months Ukrainian Parliament member responds to ...

Marjorie Taylor Greene announces resignation after feud with Trump Zara Larsson fan becomes star after onstage moment goes ...

Employees who attempt to cheat the system with bogus tax deductions risk facing severe repercussions. The Income-Tax ...

Several times this year, President Trump has suggested using a portion of the government revenue generated from new tariffs to provide rebate checks to taxpayers within certain income brackets.

Consider more than a dozen different deductions that can fatten your bottom line. Opinions expressed by Entrepreneur ...