Taxes April 13, 2026
Sharon Simmons, a DoorDash employee from Arkansas, delivered a McDonald's lunch to President Donald Trump at the doors of the Oval Office Monday, claiming she's saved $11,000 from the president’s tax policy.
Taxes April 10, 2026
The Treasury Department and the IRS issued final regulations on Friday that list the occupations of tipped workers eligible for the "no tax on tips" provision introduced by last summer's One Big Beautiful Bill Act.
Taxes April 6, 2026
Gov. Tony Evers on Friday vetoed legislation that would have eliminated all state taxes on tips, saying it did not include more sweeping tax relief targeted at middle-class earners.
Taxes March 2, 2026
The IRS has published Schedule 1-A and its related instructions for tax year 2025 so eligible taxpayers can claim tax breaks on tips, overtime, and auto loans, as well as the enhanced deduction for senior citizens, introduced in the One Big Beautiful Bill Act.
Taxes March 2, 2026
Eligible Hoosiers whose earnings this year include gratuities or overtime will not be required to pay state or county income tax on the money when they file in 2027.
Taxes February 11, 2026
Under the One Big Beautiful Bill Act, U.S. workers can now temporarily deduct tips from their federal income taxes, up to a $25,000 limit. But Illinois is one of the states that are decoupling with the policy, so tipped income will still be taxed at the state level.
Taxes November 21, 2025
The Treasury Department and the IRS issued guidance on Nov. 21 for employees who are eligible to claim the deduction for tips and for overtime compensation under the One Big Beautiful Bill Act for the 2025 tax year.
Taxes November 6, 2025
The Treasury Department and the IRS issued guidance on Nov. 5 providing penalty relief to employers and other payors for tax year 2025 on the new information reporting rules for cash tips and qualified overtime compensation in the tax-and-spending law.
Taxes October 21, 2025
The One Big Beautiful Bill Act created Internal Revenue Code sections 224 and 225, which temporarily allow a deduction for taxpayers for qualified tips and qualified overtime compensation.