On the campaign trail, President Donald Trump promised to eliminate taxes on tips and overtime. A version of that promise made it into the "big beautiful" tax-and-spending package he signed into law ...

The new tax break on tips and overtime has been sold as a windfall for workers who stay late, pick up extra shifts, or live off gratuities. In reality, the fine print decides whether a server, nurse, ...

The new year will bring a host of tax benefits that Americans can take advantage of when filing their taxes in a few weeks. The IRS released its guidance for the "no tax on tips" and "no tax on ...

It’s that odd time of day at Havana Central in Midtown Manhattan, the lull between lunch and happy hour. The restaurant’s still buzzing though, with Cuban music pumping through the speakers. “I like ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 income taxes next year. But which workers will qualify for the new deductions ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Photo by Drew Angerer / AFP via ...

The Treasury Department unveiled its list of jobs that will be covered by the Trump administration's "no tax on tips" policy under the One Big Beautiful Bill Act (OBBBA). President Donald Trump made ...

President Donald Trump’s sweeping tax and spending law, known as the “One Big Beautiful Bill Act,” will make permanent large tax cuts from the president’s first term. And it makes good on a campaign ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

This week’s Tax Breaks newsletter also looks at fantasy football winnings, car-related tax deductions, stock options, IRS Chief Counsel nod, Taylor Swift tax, tax filing deadlines, and tax trivia.