The One Big Beautiful Bill Act of 2025 introduced Section 224 of the Internal Revenue Code, establishing a below-the-line deduction for qualified tip income. P. L. 119-21, § 70201, 139 Stat. 72, ...
IRS Issues Proposed Regulations on “No Tax on Tips” Deduction Under the One, Big, Beautiful Bill Act
Section 70201(a) of the One, Big, Beautiful Bill Act (“OBBBA”) added section 224 to the Internal Revenue Code, providing an income tax deduction for “qualified tips” that are received during the ...
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