States are rejecting some of the mega tax package's most popular individal tax provisions to boost their finances. What it ...

Trump’s overtime tax break faces backlash as some states pass laws blocking residents from using the federal deduction, ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and payers. To help, the IRS is offering penalty relief in 2025.

Washington DC removed several tax breaks from the One Big Beautiful Bill Act to prevent a major revenue shortfall, meaning ...

An IRS notice says employers won’t face penalties if they don’t provide a separate accounting of cash tips and overtime compensation for tax year 2025 under H.R. 1.

Imagine getting a government budget passed with bipartisan support and no shutdown, featuring tax cuts President Donald Trump ...

What is no tax on overtime deduction and where it is not applicable is a key policy question after the Trump administration approved a federal overtime tax deduction under the One Big Beautiful Bill.

In the spirit of Halloween, please consider the below as we approach year end and April 15, 2026. On July 4, 2025 as part of Public Law 119-21 ꟷ aka the One Big Beautiful Bill Act (the “Act”) ꟷ ...

The U.S. Department of the Treasury and Internal Revenue Service (IRS) has issued long-awaiting guidance in connection with the new ...

The new OBBB requires tip & overtime tax reporting, but the IRS has issued a penalty relief for 2025, as employers adjust.

Notice 2025-62 PDF provides penalty relief from the new information reporting requirements for cash tips and qualified ...

The D.C. Council voted to block tax breaks on tips and overtime pay, which were introduced in Trump's One Big Beautiful Bill ...