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.

President Donald Trump’s promise to eliminate taxes on tips may sound like a windfall for service workers — but the fine print in Congress’ latest tax bill tells a more complex story. Back in January ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.

Corrections & Clarifications: An earlier version of this article gave incorrect information about gifts being subject to income taxes. Since President Donald Trump first proposed exempting tips from ...