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 ...

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, ...

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 ...

The Internal Revenue Service is warning taxpayers about phony tips, tax credits and other viral advice that will trigger ...

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