Among the changes, it's removing local income tax savings tied to the new no tax on tips deduction and the $6,000 bonus ...

The agency is delaying implementation of a provision of the new law that prevents workers in certain service businesses from claiming the deduction.

Illinois is one of several states choosing to decouple from the federal tax code. See what tax benefits are being excluded.

WASHINGTON (AP) — The Treasury Department is moving closer to making President Donald Trump's “ no tax on tips ” promise a reality. But new guidance released Friday tends to limit the number of tipped ...

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.

The Trump administration’s “No Tax on Tips” proposal would do more than make all tips income tax-exempt for servers. While this tax proposal promises to benefit servers, it’s more complex than that.

Some segments of the U.S. restaurant industry don't support President Donald Trump’s proposal to eliminate federal taxes on tips, saying it would help too few people and obscure bigger issues in the ...

The One Big Beautiful Bill Act of 2025 (OBBBA) expands several business tax benefits while easing certain compliance ...

The “No Tax on Tips” provision, passed and signed into law on July 4 as part of President Donald Trump’s One Big Beautiful Bill Act, allows eligible tipped workers to deduct a portion of their income ...

FILE - A server tends to customers in an outdoor dining area on The Promenade in Santa Monica, Calif., June 9, 2021. (AP Photo/Marcio Jose Sanchez, File) Some segments of the U.S. restaurant industry ...