Proposed Regs for New Tips Deduction
On September 19, 2025, the Treasury Department issued proposed regulations for the new qualified tips deduction. The new deduction is effective starting in the 2025 tax year.
The proposed regulations give detailed examples of what qualifies as tips for the purpose of the new deduction, and they specify that only those taxpayers with occupations listed in the table that is contained in the proposed regulations are permitted to take the deduction.
In our upcoming seminars, we will discuss the details of the new qualified tips deduction along with the many new tax provisions that are effective for the 2025 tax year.
Are you registered for one of our upcoming seminars in December and January? If you are not already registered, register here so you’ll be fully prepared with what you need to know, including the major new federal tax law enacted on July 4th.