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 provisions on tip and overtime compensation were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big ...

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 ...

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

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