Trump tax plan

New York State's revenue could feel the impact of the One Big Beautiful Bill Act unless it makes changes in its tax laws.

The Internal Revenue Service has posted a draft version of Schedule 1-A that will be used next tax season when claiming new tax breaks.

Katherine Green, a dominatrix who creates online adult videos, wasn't expecting a windfall from President Donald Trump's signature push to make tips tax-free.

Workers in dozens of job categories — including waiters, cosmetologists, golf caddies, event DJs and dancers — won't have to pay taxes on the tips they earn.

The list of jobs that are eligible for tax exemptions on tips includes bartenders, food servers, entertainers, performers and digital content creators.

The legislative drive, still in the early stages, lacks the urgency that the year-end expiration of 2017 tax cuts provided to speed Trump's signature tax law.

The Internal Revenue Service has provided guidance on how to deal with the restoration of full expensing of research and development costs under the One Big Beautiful Bill Act.

Buybacks have drawn the ire of some members of the Trump administration, having been a topic in the wrangling over President Trump's signature tax bill.

Even though the One Big Beautiful Bill Act made substantial changes in the Tax Code, one area where that may not be seen so much is in terms of simplification.

The Internal Revenue Service has released a draft version of the 2026 Form W-2, Wage and Tax Statement, with new fields for the exemptions on tips and overtime.