The IRS has released its guidance for the "no tax on tips" and "no tax on overtime" provisions of the One Big Beautiful Bill Act (OBBBA), for workers who can claim the deductions for the 2025 tax year ...
Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...
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New IRS form lets taxpayers claim 2025 deductions on tips, overtime pay, car loan interest
Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...
The Internal Revenue Service has released a draft version of the 2026 Form W-2, Wage and Tax Statement, with new fields added to prepare the way for the tax exemptions on tips and overtime income ...
Taxpayers and tax professionals alike expected the IRS to issue new withholding tables and Forms W-2 to reflect changes under the One Big Beautiful Bill Act. The IRS now says that won’t happen in 2025 ...
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