If you received tips or overtime in 2025, this new deduction could reduce your federal tax burden significantly.
The IRS released new guidance for no tax on tips and overtime deductions under the One Big Beautiful Bill Act. Eligible ...
The Mirror US on MSN
IRS releases guidance for restaurant workers as new Trump bill causes 'confusion'
Individuals can now claim tax deductions on tips and overtime, which is particularly important for restaurant and gig workers ...
Takeaways For tax years 2025 -2028, the One Big Beautiful Bill Act (OBBBA) allows employees to take an above-the-line tax deduction on qualified overtime pay and qualified tips.
Self Employed on MSN
IRS Sets 2026 Inflation Tax Adjustments
The post IRS Sets 2026 Inflation Tax Adjustments appeared first on Self Employed.
FinanceBuzz on MSN
Experts Share 8 Tax Mistakes That Could Land You in an IRS Audit
Financial experts reveal eight common tax mistakes that can increase your chances of triggering an IRS audit and explain how ...
On November 21, 2025, the Internal Revenue Service (IRS) and the U.S. Department of the Treasury released guidance outlining ...
Money Talks News on MSN
Shutdown left IRS drowning in 44-day backlog that's hitting your wallet
The 44-day government shutdown created a massive IRS backlog. Find out how it's affecting your tax refund and what business ...
Neil McCoy-Ward on MSN
What the New $600 IRS Threshold Means for You
The IRS is implementing a new $600 reporting threshold that could impact millions of Americans’ taxes. This change means more ...
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