We’re going to have this hodgepodge, weird year of rules that’s going to make reporting very difficult for employees." ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

That guidance basically asks employers to use their best efforts to provide documentation; no penalties will be imposed on ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

Many people will be shocked when they discover the intricate rules — and lack of supporting paperwork — when filing 2025 federal income tax returns.

If you earn tips or overtime, the IRS just made your 2025 tax season a little more interesting. A new draft form, Schedule 1-A, lets you claim deductions on those earnings, along with car loan ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and other payers. However, rather than require more reporting this late in 2025, the IRS is ...