Note: Now that the No Tax on Tips measure has been signed into law, the new tax deduction for cash tips takes effect for the 2025 tax year. That means eligible workers could claim the deduction when they file their taxes in early 2026 for income earned in 2025. Despite the excitement over this change, there are some things the OBBBA doesn’t cover.

Clear Start Tax explains how income mismatches trigger audits, and what taxpayers can do to stay compliant. IRVINE, CA / ACCESS Newswire / July 16, 2025 / With the IRS expanding its data-matching capabilities through advanced systems like the Information Returns Processing (IRP) platform,

Americans saving for retirement will benefit from increased contribution limits for their 401(k) accounts in 2025, following a decision by the IRS. However, these adjustments come alongside the sweeping changes brought by the newly signed One Big Beautiful Bill Act,

The 'One Big Beautiful Bill Act' (OBBBA), signed by President Trump on July 4, 2025, introduces a groundbreaking change for tip-earning workers: the ability to exempt a portion of their tip income from federal income tax.

The new tax law makes substantial changes for the 2025 tax year. Here are 6 new tax provisions that could help you save on taxes this year.

The Tax Law Center at New York University Law has recommended repealing or amending the qualified small business stock provisions of the tax code—known as section 1202—to prohibit this gifting of unappreciated stock, which, the center argues, allows wealthy individuals to take advantage of the gain exclusion.