The new, special tax deduction on tips is retroactive and applies to eligible tip income earned in all of 2025. The tax break on tip income runs from 2025 through 2028. Tax professionals raise red ...

Lawmakers in Tallahassee are trying to rein in extra fees and charges on restaurant bills as the cost of eating out rises. An amendment was added to a bill that would ban “service charges” for parties ...

There will be no tax on tips and no tax on overtime this tax season. Here's what to know about deductions and who qualifies ...

Forbes contributors publish independent expert analyses and insights. Andrew Leahey is an attorney and law professor that covers tax. TOPSHOT - US President Donald Trump (C) shows his signature on the ...

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.

Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...

Whether it’s a takeout cashier spinning a bacteria-laced iPad toward you or a coffee shop worker waiting as you hesitate at a digital tipping screen, one thing is clear: Tipping culture is changing — ...