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

A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The no tax on tips and overtime are new tax deductions, and here's how you can claim them.

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary overtime deduction.

A draft version of Form W-2, Wage and Tax Statement, for 2026 includes boxes and codes for reporting qualified tips and qualified overtime compensation that can be deducted temporarily under the ...