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President Donald Trump’s "One Big Beautiful Bill Act" is now law. So when does it take effect? Here's a look at when its provisions start.
The lengthy spending and tax bill was signed into law by Trump on July 4. Here's when some measures take effect.
President Trump signed the "One Big Beautiful Bill Act" into law, enacting a comprehensive tax bill that affects tipped workers.
Several of the provisions in the law are not permanent, and will expire in 2028.
No Tax on Tips' wasn't the only new tax write-off signed into law. However, the car loan tax deduction only applies to certain qualified vehicles.
The fine print in President Trump's recently signed "big, beautiful bill" could restrict savings for some tipped workers. Why it matters: Trump made "no taxes on tips" a centerpiece of his presidential campaign — and while a provision in the new law honors that idea on the surface,
The new bill will allow employees to make a tax deduction from their gross income up to $25,000 from earned tips. The tax deduction is limited to voluntary cash tips that are received by an employee. According to the bil l, tips have to be reported to an employer for purposes of withholding payroll taxes.
In the newly signed ‘Big, Beautiful Bill,’ workers will see changes on how they're taxed on tips, a major priority in President Donald Trump’s agenda.