The Internal Revenue Service and the Treasury have issued guidance for taxpayers to claim the deductions for tips and overtime pay from the One Big Beautiful Bill Act. Processing Content The two ...

In a sweeping move set to reshape employee paychecks, the newly enacted One Big Beautiful Bill Act (OBBBA) introduces two significant federal tax deductions for hourly workers: one for overtime pay ...

Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.

About three or four times a year, a client will offer a tip to Bill Nemeth for his work on their tax return. "I tell them there's no need to tip me, but if they insist I'll accept it," said Nemeth, ...

DENVER (KDVR) – As the end of the year approaches, many workers who rely on tips and overtime pay may face some confusion as they prepare for tax return season. President Trump’s bill passed by the ...