The "Big Beautiful Bill" did not actually eliminate taxes on tips, overtime, or Social Security, but many people will be able ...

The Internal Revenue Service (IRS) is celebrating 2025 as the 50th anniversary of the Earned Income Tax Credit (EITC), and launching an awareness campaign as a result.

Zohran Mamdani, a democratic socialist, is a leading candidate for mayor of New York. He wants to tax the rich. Business interests are panicking.

The bill to exempt tips from federal income tax, an idea that President Donald Trump campaigned on, will now go to the House of Representatives for a vote.

The annual campaign, now in its 19th year, helps increase awareness among the millions of working Americans with a low-to-moderate income who are eligible for the EITC. The IRS estimates that ...

The annual campaign aims to increase awareness among working Americans with a low-to-moderate income who could be eligible for the EITC.

The proposal to eliminate federal income tax on overtime pay, which was also a Trump campaign pledge, was a separate measure. And yes, the OBBB also introduces a temporary deduction for overtime pay.

Under the bill, employees would be eligible for an annual income tax deduction of $25,000 for some types of cash tips.

"No tax on tips" began as a promise Trump made during a 2024 campaign stop in Nevada. It has since become a top talking point ...

U.S. President Donald Trump's signature tax break on tips promises relatively few upsides for low-income Americans, who face a net loss of income under his massive tax and spending bill in ...