Will you stop paying taxes on your tip income? New tax rules may allow some workers to reduce their tax liability on ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

The “One Big Beautiful Bill Act” (OBBBA), the sweeping, comprehensive budget legislation enacted on July 4, 2025, seeks to fulfill several key campaign promises of President Donald Trump. Among those ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. What we have in the final language about tips and overtime illustrates ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. The provision adds Section 224 to the Internal Revenue Code which allows ...

Americans often voice frustration over the ubiquity of tipping these days, but that hasn't stopped them from giving generously to reward good service. Consumers spent an estimated $77.6 billion on ...

In hospitality-rich South Florida, the new federal law making tips and overtime tax-free won’t touch the wallets of tipped restaurant workers until next tax season, but it’s already having a snowball ...