Summary
The U.S. Treasury Department is advancing rules for President Trump’s “no tax on tips” policy. A new proposal clarifies which jobs and types of tips qualify. Workers in traditionally tipped occupations may deduct up to $25,000 in tips annually from 2025 to 2028; those earning over $150,000 will see the benefit phase out. To be considered, tips must be voluntary, reported to employers, and paid in cash, check, debit card, gift card, or similar—digital assets are excluded. Occupations such as delivery drivers, podcast creators, house cleaners, and ski instructors are included, while auto‐gratuities, mandatory service charges, and married couples filing separately do not qualify.
ABC News
Read the Full Article
The dedicated team at Newsletter Station has provided this summary for your convenience.
Harness the potential of email marketing with Newsletter Station. Reach your target audience, drive conversions, and achieve your business goals.
|
|
|