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How tax breaks on overtime, tips work after Donald Trump's 'Big beautiful bill'
Now that President Donald Trump signed the bill, workers will be able to deduct up to $25,000 in reported tips and $12,500 in overtime pay from their taxable income on their federal tax returns. This means you won’t see an immediate boost in your take-home pay — taxes will still come out of your paycheck — but when you file for 2025 early next year,
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IRS cut 25,000 jobs in just one year amid sweeping staffing reductionsThe IRS cut over 25,000 jobs in a year, sparking concerns about its ability to handle tax seasons and provide adequate taxpayer support.
National Taxpayer Advocate rings warning bell about how much the IRS will be prepared for 2026 tax season, given job cuts and ...
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How will IRS layoffs impact your tax refund? - MSNIRS cuts won’t disrupt services: White House The Trump administration has said the job reductions could make the IRS more efficient and that the cuts would not disrupt services.
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IRS warns taxpayers of "significant" challenges ahead of 2026 filing seasonThe 2026 tax season could be rough, with IRS staff cuts and budget woes likely causing delays and service issues for ...
WASHINGTON (AP) — The Supreme Court on Tuesday cleared the way for President Donald Trump’s plans to downsize the federal ...
The budget bill championed by Trump could complicate next year’s tax filing season after the IRS lost one-quarter of its employees through staffing cuts. That's what an independent watchdog says ...
President Donald Trump's big policy bill and job cuts bring risks for the next tax filing season.
The budget bill championed by President Donald Trump could complicate next year's tax filing season after the IRS lost one-quarter of its employees through staffing cuts, an independent watchdog ...
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