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Wage and Hour Tips FICA Taxes

Husch Blackwell LLP

Important New Reporting Rules for Overtime Pay and Tipped Income

Husch Blackwell LLP on

With the passage of the new federal tax bill on July 4, 2025, unofficially referred to as the One Big Beautiful Bill Act (OBBBA), employers and employees in overtime-heavy and tipped industries face new opportunities and...more

Benesch

No Tax on Tips! What President Trump’s Promise May Mean for Your Business

Benesch on

If you’re a political nerd like me, you may have observed then-candidate and now President Donald J. Trump’s pledge to eliminate taxes on tips. In fact, he doubled down on this promise in his speech to Congress on March 4,...more

McGlinchey Stafford

Reporting Cash Tips to the IRS [More with McGlinchey, Ep. 24]

McGlinchey Stafford on

In restaurants, the wait staff, bartenders, and bussers are required to report their tips, including cash tips, to the restaurant and the IRS. Even if those cash tips aren’t reported to the restaurant, since tips are income...more

Laner Muchin, Ltd.

Are You Prepared To Comply With New Employment Laws And Requirements In 2014?

Laner Muchin, Ltd. on

The New Year brings new employment laws and requirements for businesses. For example, as reported in the most recent edition of The Fast Laner, Illinois became the last state to allow people to carry concealed firearms....more

FordHarrison

Restaurant Industry Newsletter - January 2014

FordHarrison on

Tax Ruling Impacts the Use of Mandatory Service Charges - Executive Summary: Beginning on January 1, 2014, "mandatory gratuities" or service charges are no longer considered "tips" by the Internal Revenue Service, and...more

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