The One Big Beautiful Bill Act (OBBBA) offers two of the most talked-about tax changes for working Americans: No Tax on Tips ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

Traditionally, all tip income was taxable, and workers had to report any cash tips exceeding $20 per month to their employer. But in 2025, the One Big Beautiful Bill introduced temporary exemptions: ...

Since the enactment of the “One Big Beautiful Bill Act” (OBBBA) on July 4, 2025, employers have awaited guidance on recordkeeping and reporting obligations related to the law’s “no tax on tips” and ...

View post: 70-year-old furniture retailer files Chapter 7 after sudden shutdown ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

President Trump's promise of "no tax on tips" and "no tax on overtime" is finally moving from campaign slogan to practical reality, as the Internal Revenue Service begins spelling out how workers and ...

No Fines for Incorrect Reporting of Tips and Overtime in 2025 New guidance from the U.S. Treasury Department and the IRS states that penalties will not be assessed for employers who fail to meet the ...

The latest changes to tax laws impacting tipped income introduce new considerations for hospitality businesses, particularly within the restaurant industry. With these changes starting this tax year, ...