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The IRS announced that changes are coming for American taxpayers, with the One Big Beautiful Bill Act offering tax deductions for working Americans and seniors. Below are descriptions of new provisions from the bill, signed into law on July 4, that go into effect for 2025. No Tax on Tips New deduction: Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received in occupations that are listed by the IRS as customarily and regularly receiving tips on or before December 31, 2024, and that are reported on a Form W-2, Form 1099, or other specified statement...

For the written story, read here >> https://www.signalsaz.com/articles/irs-announces-new-tax-deductions-for-americans/

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