IRS, taxes on tips
Under the new guidance, workers in specific occupations where tips were customarily and regularly received before 2025 may ...
The provisions on tip and overtime compensation were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big ...
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IRS admits it lacks systems for new law and drops penalties tied to tips and overtime
The IRS says it cannot meet new OBBBA reporting rules, leading to a temporary suspension of penalties on tip and overtime reporting for 2025.
Among the changes, it's removing local income tax savings tied to the new no tax on tips deduction and the $6,000 bonus ...
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