The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and payers. To help, ...

An IRS notice says employers won’t face penalties if they don’t provide a separate accounting of cash tips and overtime ...

The U.S. Department of the Treasury and Internal Revenue Service announced penalty relief Monday for employers and payors ...

The new OBBB requires tip & overtime tax reporting, but the IRS has issued a penalty relief for 2025, as employers adjust.

The One Big Beautiful Bill (OBBB), enacted July 4, 2025, introduces a highly publicized provision exempting certain tips from federal income ...

Restaurants may need to rethink their mandatory gratuity policies if they want this income to count as qualified tips for ...

The “no tax on tips” law could push restaurants to reconsider their mandatory gratuity policies if they want qualified tips ...

The move is in response to challenges introduced by new disclosure requirements under the One, Big, Beautiful Bill.

The Internal Revenue Service (IRS) released guidance on November 5, 2025, granting employers relief from tax penalties for failing to provide employees information related to their (1) “qualified tips ...

Notice 2025-62 PDF provides penalty relief from the new information reporting requirements for cash tips and qualified ...

The Internal Revenue Service (IRS) requires employers and employees alike to use specific tax forms to accurately record ...