Treasury Issues Official Guidance On “No Tax On Tips”—Who’s In And Who’s Out?
There’s now more guidance for the “no tax on tips” deduction. getty Beginning with 2025 tax filings, eligible workers will be able to deduct up to $25,000 in tips from their taxable income under the No Tax on Tips provision of the One Big, Beautiful Bill Act (OBBBA). To help taxpayers sort out the details,…