Tip Deduction Proposed Regulations are Released
The IRS last week issued proposed regulations on the new tip deduction under OBBBA.
The One Big Beautiful Bill Act introduced a new deduction for taxpayers to take for qualified tips that they received during 2025-2028.
The IRS had previously issued a listing of the industries that qualify for their employees or independent contractors to receive the deduction.
Last week, the IRS issued proposed regulations on the deduction.
Some of the highlights of the regulations are:
