From avoiding scams to maximizing a tax return, there are many things for people to watch out for as tax season starts Monday.

There will be no tax on tips and no tax on overtime this tax season. Here's what to know about deductions and who qualifies ...

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 ...

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 ...

The new year will bring a host of tax benefits that Americans can take advantage of when filing their taxes in a few weeks. The IRS released its guidance for the "no tax on tips" and "no tax on ...

A tax and spending package introduced new tax breaks on overtime pay and tips for eligible workers. The new rules, which apply to tax years 2025 through 2028, have income and employment-type ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Photo by Drew Angerer / AFP via ...

The new, special tax deduction on tips is retroactive and applies to eligible tip income earned in all of 2025. The tax break on tip income runs from 2025 through 2028. Tax professionals raise red ...

Earlier this month, President Trump signed the “One Big Beautiful Bill” (OBBB) into law, which contains two key provisions that are likely to be very popular with employees. Those provisions provide ...

WASHINGTON (AP) — Golf caddies, blackjack dealers and house painters are among the jobs covered under the Trump administration’s preliminary list of occupations not required to pay income tax on their ...

The IRS has released its guidance for the “no tax on tips” and “no tax on overtime” provisions of the One Big Beautiful Bill Act (OBBBA), for workers who can claim the deductions for the 2025 tax year ...