A Time and Place for Everything By Mary C. Walsh As the tax filing season looms, employers must ensure compliance with ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

The new “no tax on tips” and “no tax on overtime” deductions require additional reporting by employers and other payers. However, rather than require more reporting this late in 2025, the IRS is ...

The Internal Revenue Service and the Treasury Department issued guidance Wednesday giving penalty relief to employers and other payors for tax year 2025 on the new information reporting requirements ...

Since the enactment of the “One Big Beautiful Bill Act” (OBBBA) on July 4, 2025, employers have awaited guidance on recordkeeping and reporting obligations related to the law’s “no tax on tips” and ...