Filing taxes may be more complicated this year as several new deductions take effect for the first time.

A for tax year 2025 tied to the “One, Big, Beautiful Bill,” offering deductions for tips, overtime pay, car loan inte ...

With the tax filing season already underway, revised 1040 instructions make the tips deduction more complicated and limited for the self-employed.

The IRS has unveiled new guidelines to help taxpayers take full advantage of the deductions introduced in the One Big Beautiful Bill (OBBB). This legislation, also known as the Working Families Tax ...

As part of the One, Big, Beautiful Bill Act, taxpayers are entitled to a tax deduction on “qualified overtime” and “qualified tips” received during tax years 2025 through 2028. The following is a ...

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

The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

Workers who claim the new deduction will see an average tax cut of around $1,400, although some could realize larger savings.

The IRS published instructions and tips to help qualified tipped workers to apply for the “No Tax on Tips” deduction.

During his speech to supporters at Verst Logistics in Hebron Wednesday, Trump specifically touted the no tax on tips and no tax on overtime provisions. Here's a refresher on what they do.

About 72,000 Maryland tax filers may have missed the Earned Income Tax Credit, and new deductions for seniors, tips, and overtime are now available.

See how the SALT deduction can cut your tax bill. Learn which state and local taxes you can deduct, how the SALT cap applies, ...