President Donald Trump’s recently enacted tax legislation includes a provision that eliminates taxes on tips, a measure he ...

President Donald Trump's "big beautiful bill" includes a section for "no tax on tips." Now that the provision is enacted, ...

Many service workers are eagerly awaiting no longer paying taxes on their tips. Yet the fine print in Republicans’ new law could limit savings for some waiters, bartenders and others. Among the ...

New tax breaks on tip income and overtime pay will go into effect in 2025, part of the megabill that President Trump signed into law on July 4. But some workers may not see any benefit.

Tips are an important fact of life for a whole lot of workers in the US. Since they can be a major source of income, you'll also need to keep them in mind when filing your tax return. A 2023 ...

You must report the income you made from tips on your tax return. On its website, the IRS advises you to keep a "daily tip record" in order to have the full amount ready to report come tax season.

If tax time is upon you and you have unreported tips to your employer, you must complete an IRS Form 4137, Social Security Tax on Unreported Tip Income. Make sure to report any unreported tip ...

President Trump signed the “One Big Beautiful Bill” (OBBB) into law, which contains two key provisions that are likely to be ...

The "Big Beautiful Bill" did not actually eliminate taxes on tips, overtime, or Social Security, but many people will be able to claim new income tax deductions that will reduce federal taxes on such ...

ROCK HILL, SC / ACCESS Newswire / March 19, 2025 / TaxBandits, a leading e-filing platform for businesses and tax professionals, now supports Form 8027, making the process of reporting tip income ...