After the passing of the One Big Beautiful Bill Act (OBBBA), taxpayers may deduct up to $25,000 of “qualified” tips, regardless of filing status. The rules on “qualified” tips are complicated, however, the IRS has uploaded an article providing guidance on this matter.
If you, or someone you know, receives tips, please visit the IRS link to stay informed: https://www.irs.gov/newsroom/treasury-irs-issue-guidance-listing-occupations-where-workers-customarily-and-regularly-receive-tips-under-the-one-big-beautiful-bill
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