The Department of the Treasury and the Internal Revenue Service issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025. Notice 2025-69 clarifies for workers how to determine the amount of their deduction...
On July 4, President Trump signed the budget reconciliation bill (aka One Big Beautiful Bill Act) into law, indefinitely extending two key pre-pandemic benefits, described below. High Deductible Health Plans and Telehealth For high deductible health plans (HDHPs) that...
Understanding the New Federal Tax Law on Tips and Overtime: What Employers Need to Know and How to Prepare The federal income tax exemption for tips and overtime pay—part of the “One Big Beautiful Bill Act” passed on July 3, 2025—is not just a policy change; it’s a...