For a worker making $40,000 or less, standard deductions often already wipe out federal tax obligations. But for someone in ...

Trump has signed the "big, beautiful" bill, enacting sweeping changes to programs like SNAP and Medicaid. Here's what ...

People who earn tips or work overtime may see some tax breaks under President Donald Trump's "Big Beautiful Bill." What to ...

Congress passed the tax cut and spending megabill with President Trump's legislative priorities which includes new tax ...

Ending taxes on overtime and tips was a campaign promise Trump made. An earlier version of the bill had made it so that no taxes would be paid on overtime and tips through 2028. Instead, a cap was ...

The "no tax on tips" provision in the spending bill creates a new deduction for tipped workers, eliminating what they owe in federal income tax. Tipped workers still have to pay state and local ...

The "no tax on tips" provision within the Senate version of the One Big Beautiful Bill Act allows tipped workers to deduct tip income from their federal taxable income, up to $25,000 annually.

However, there are slight differences. In the House bill, no tips would be taxed through 2028. In the Senate bill, the first $25,000 of tips are tax-deductible through 2028 with a $150,000 income ...

What does the Big Beautiful Bill say about tax on overtime and tips? The final version of the bill will allow workers to deduct up to $25,000 in tips and up to $12,500 ($25,000 in the case of a ...

President Donald Trump signed the One Big Beautiful Bill into law, which includes new tax deductions for tips and overtime pay that take effect now.

For Gimbel, the no tax on tips law should be taken in the broader context of the entire bill. "Our analysis suggests that if your income is above 3.3 million, you get a tax cut of over 118 ...