The IRS said it expects 164 million individual tax returns to be filed.

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

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.

WASHINGTON (AP) — The Treasury Department is moving closer to making President Donald Trump’s “ no tax on tips ” promise a reality. But new guidance released Friday tends to limit the number of tipped ...

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 ...

Donald Trump speaks during a rally at the Grand Sierra Resort in Reno on Oct. 11, 2024, where he promised his supporters, “No Tax on Tips” to raucous applause. JASON BEAN/RGJ USA TODAY NETWORK Law ...

A U.S. Treasury Department document includes podcasters, social media influencers and streamers among occupations eligible for tax-free tips. By Alex Weprin Senior Editor President Trump’s One Big ...