As a result of "no tax on tips" becoming law, many restaurants may need to rethink service fees on large groups. Mandatory gratuities, typically 15% to 20% that restaurants often impose on parties of ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and other payers. However, rather than require more reporting this late in 2025, the IRS is ...

Some 'no tax on tips' occupations might surprise you: Podcasters, social media influencers, plumbers and house painters. The new, special tax break on tips is retroactive and applies to eligible tip ...

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 ...