There is also a new tax break on overtime and tips. The law shields up to $25,000 in eligible tips and up to $12,500 in overtime pay for individuals (or $25,000 in overtime for married couples).

Did you earn tips in the service industry or work a lot of overtime? With the 2026 tax season approaching, you might be wondering how to properly prepare your tax filings. Last summer, President ...

The IRS recently changed tip deduction rules for self-employed individuals. If you filed early, learn how to amend your tax return.

Roughly 6 million people reported income from tips on federal income tax returns in the past — and you can bet they'll jump at the chance to see a bigger refund by claiming a new deduction on tip ...

The new federal tax deduction could dramatically reduce your tax bill this year. But it's not exactly tax-free. We break down ...

Section 224 was pitched as relief for tipped workers. But evolving IRS guidance and technical limitations have made the deduction far more complicated for the self-employed. The One Big Beautiful Bill ...