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

Workers who claim the new deduction will see an average tax cut of around $1,400, although some could realize larger savings.

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

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing a key campaign promise of President Trump’s, with the help of Senate Democrats. Sen. Jacky Rosen (D-Nev.) ...

Why Your Tax Refund Could Be Bigger In 2026—And What Else You Need To Know When To Expect Your Forms W-2 & 1099 In 2026—And What To Do If They’re Missing The IRS has released new guidance to help ...

The Senate unanimously passed the “No Tax on Tips Act” on Tuesday, a bill that would eliminate federal taxes on tips and that President Donald Trump made a campaign promise when running for reelection ...

Philadelphia hospitality industry workers who rely on tips, whether cash or charged, can take advantage of a new federal tax deduction on top of the standard deduction for tips under a new law signed ...

Las Vegas — For waiters, dealers and bartenders on the Vegas Strip, tips aren't just a thank you — they're a paycheck. "There are some days we do really good, and people will be surprised like, 'Oh my ...