GOP budget reconciliation bill, which became law in July, created temporary tax deductions for tips and overtime compensation.

Plus: The IRS has reopened, some tariffs have been reversed, tax filing status and marriage, professional sports stadiums on the public dime, tax trivia and more.

The "no tax on tips" law was a provision included in President Donald Trump's signature "One Big Beautiful Bill Act," and was ...

US Department of the Treasury and the Internal Revenue Service (IRS) released guidance to claim new tax deductions on tips ...

On November 21, 2025, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury released guidance outlining ...

IRS relaxes ‘no tax on tips law’ so more workers can take advantage. Here’s who will benefit - Treasure Department’s tax ...

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 ...

Millions of Americans who work overtime shifts or receive tips will be eligible to claim new deductions on their 2025 tax ...

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 cannot meet new OBBBA reporting rules, leading to a temporary suspension of penalties on tip and overtime ...