A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who qualifies, and income limits.

The White House has reported that, on average, Americans will receive about $1,300 more in their pocket through the deduction ...

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 $25,000 tip tax deduction applies from 2025 through 2028. File IRS Schedule 1-A to claim it. Only voluntary tips ...

Many of you have your W-2s and are ready to do your taxes. But before you file, there's one thing to remember: there are big ...

To claim the new tax break, you will need to fill out a new tax form called Schedule 1-A. Schedule 1-A is an IRS form used to ...

Run the numbers: For 2025, the standard deduction is $31,500 for married couples and $15,750 for singles. If your total ...

When it comes to filing your 2025 taxes, financial experts suggest starting early and doing more research because there are a ...