The IRS will provide transitional relief for taxpayers who want to benefit from the “no tax on tips” and “no tax on overtime” breaks in President Donald Trump’s new tax law, the agency said in a ...

Around 10% of people itemize their deductions now, and they are typically wealthier. The other 90% take the standard deduction, which expanded in the 2017 Trump tax cuts and will get bigger under the ...

From baristas and ride-share drivers to hotel staff, self-checkouts, tipping culture in the U.S. has spiraled beyond ...

The “big, beautiful” bill, signed into law by President Trump, extends tax cuts, increases the Child Tax Credit, reduces taxes for tips and overtime, creates Trump Accounts for parents ...

Key provisions in the president’s signature legislation will take effect at different times over several years.

This year’s tax filing season officially kicked off in July, with auto assessments running from 7 – 20 July. For non-provisional taxpayers who were not auto-assessed, they will be able to submit and ...

Millions of people receive a federal tax deduction for the interest they pay on home loans. Under President Donald Trump’s ...

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 ...

Now that President Donald Trumps signed the bill, workers will be able to deduct up to $25,000 in reported tips and $12,500 in overtime pay from their taxable income on their federal tax returns.

The IRS is ramping up crypto tax enforcement, sending warning letters to US investors over suspected discrepancies.