A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who ...

If you earn tips at work, you may be able to deduct up to $25,000 of qualified tips on your federal income tax return. The tip deduction is gradually phased out – potentially to $0 – if your modified ...

Some of the biggest tax changes in years could hit your federal return right now. From untaxed tips and overtime to a new incentive for new-car buyers, to a bigger child tax credit, Consumer Reports ...

Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...

Taxpayers should review their filing status if they experienced a major life event like marriage or divorce in 2025. Consider "bunching" deductions, such as charitable donations or state tax payments, ...

With the tax filing season already underway, revised 1040 instructions make the tips deduction more complicated and limited for the self-employed.

There may be some last-minute steps you can take ...

Many Americans could see changes to their tax refunds this year due to updates in the One Big Beautiful Bill Act (OBBB)—here’s what to know.

It's tax season and social media feeds are full of tips. The problem, officials say, is that some of the advice could cause ...

Must-Know Tax Season Tips for Small Businesses and Solopreneurs ...

Experts share tips to maximize your tax return, from keeping receipts year-round and combining credits to carrying forward ...