The Treasury Department has released a list identifying eight industries covered by the “no tax on tips” policy in the One Big Beautiful Bill Act.
President Donald Trump signed the Republican-led megabill on July 4, following through on a key campaign pledge of eliminating taxes on tipped income.
As part of the bill, workers can deduct up to $25,000 in qualified tips from their annual taxable income. Individuals earning less than $150,000 per year and married couples filing jointly earning under $300,000 are eligible for the deduction. The law will remain in effect until 2028.
Treasury officials released a 13-page list of industries and jobs that are eligible for the no-tax-on-tips provision….