IRS releases guidance for Americans to cash in on new tax break on tips and overtime pay
PositiveU.S News
- The IRS has released guidance for American workers regarding a new tax deduction for tips and overtime pay, which is part of the One Big Beautiful Bill Act, applicable for the 2025 tax year.
- This development is significant as it provides financial relief for workers who rely on tips and overtime, potentially increasing their disposable income and encouraging more equitable compensation practices in the workforce.
— via World Pulse Now AI Editorial System