The tax break on tip income is not automatic. You need to file a new form. The U.S. Treasury Department has a list of dozens of occupations that 'customarily and regularly received tips' that qualify ...

The IRS has released new guidance to help taxpayers who are eligible to claim the deduction for tips and for overtime compensation for tax year 2025. (The guidance to help employers and other payers ...

The Treasury has released a preliminary list of jobs that qualify for the new tip deduction. A whopping 68 occupations, including podcasters and bakers, made the list—some of them may surprise you.

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 ...

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 ...

Roughly 6 million people reported income from tips on federal income tax returns in the past — and you can bet they'll jump at the chance to see a bigger refund by claiming a new deduction on tip ...