We’re going to have this hodgepodge, weird year of rules that’s going to make reporting very difficult for employees." ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

That guidance basically asks employers to use their best efforts to provide documentation; no penalties will be imposed on ...

Key Takeaways You can subtract up to $25,000 of the tips you earned from your 2025 taxable income, which lowers your tax ...

Taxpayers will need to calculate for themselves how much they can subtract from their 2025 taxable income using the new ...

The U.S. Senate narrowly passed its version of President Donald Trump’s One Big Beautiful Bill on Tuesday, which includes such provisions as the elimination of tax on tips for many workers, and an ...

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.) ...

The “One Big Beautiful Bill” that became law on July 4 — which President Donald Trump has called “a massive tax cut for the middle class,” but opponents say is designed mostly to benefit the wealthy — ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...