The Federal Tax Deductions for Tips and Overtime Pay: Opportunities for Restaurants Employers
The Impact of One Big Beautiful Bill on Estate Planning
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) are rolling out guidance on the new “No Tax on Tips” provision under the One Big Beautiful Bill Act (OBBB Act), ushering in a significant change for...more
Employers got a sneak peek at the jobs that will qualify for the “no tax on tips” deduction over the holiday weekend thanks to a list obtained by Axios. The September 1 release provides the first real clarity on which...more
The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. The legislation contains a multitude of changes to the tax law that may affect an individual’s personal income, estate, and gift taxes. This Alert...more
On July 4, 2024, President Trump signed the “Big Beautiful Bill,” which contains two provisions that provide federal income tax deductions on both tips and overtime compensation beginning January 1, 2025, through December 31,...more
President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new...more