Forms W-2, 1099-NEC, 1099-MISC, and 1099-K will be updated for tax year 2026 to provide separate reporting of the employee’s qualified tips and qualified overtime compensation.
On May 22, 2025, the House of Representatives passed H.R.1, the One Big Beautiful Bill (OBBB) Act to avert a $4 trillion tax hike from the expiration of the 2017 Tax Cuts and Jobs Act (TCJA) and...
Federal Tax Deductions for Tips & Overtime Under the One Big Beautiful Bill Act (2025–2028) Tip Deduction: Deeper in the Weeds OBBBA adds an above-the-line tax deduction up to $25,000 with …
The U.S. House of Representatives on May 22, 2025, passed H.R. 1, the budget reconciliation bill known as the “One Big Beautiful Bill Act.” Prior to passage by the full House, the Rules Committee …
Aug 27, 2025 · ax on tips” provision of the One, Big, Beautiful Bill Act (OBBB Act). The official proposed list of such occupations will be published in the Federal Register as part of forthcoming proposed …
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, includes over $1 trillion in cuts to federal healthcare programs. The law includes sweeping cuts across Medicaid, ACA Marketplace, …
A BILL To provide for reconciliation pursuant to title II of H. Con. Res. 14. 2 tives of the United States of America in Congress assembled, 3 SECTION 1. SHORT TITLE. 4 This Act may be cited as the ‘‘One …