2025 Tips/Overtime Deduction “Cliff Notes” From Tax Newsletter with Updates
Tips/Overtime—IRS Notice 2025-69 2 2025-2028 Tax Years Tips: Must work in industry where Tipping is routine (e. g. Hair care) AND IRS specifies industry qualifies for Tip Deduction. Hyperlink lists industries and code numbers. Tip is voluntary. Not subject to negotiation. Not “expected” or an arbitrary charge on customer bill. No additional service required for … 2025 Tips/Overtime Deduction “Cliff Notes” From Tax Newsletter with Updates