Starting next year, millions of Americans — from restaurant servers to retirees — could receive lower tax bills under President Trump's recently signed tax legislation. Why it matters: The sweeping law locks in Trump-era tax cuts and rolls out a fresh set of deductions,

The massive new tax law brings several tax-law changes for self-employed, freelance and gig workers, including some that should lower their tax bills.

Clear Start Tax explains how income mismatches trigger audits, and what taxpayers can do to stay compliant. IRVINE, CA / ACCESS Newswire / July 16, 2025 / With the IRS expanding its data-matching capabilities through advanced systems like the Information Returns Processing (IRP) platform,

Note: Now that the No Tax on Tips measure has been signed into law, the new tax deduction for cash tips takes effect for the 2025 tax year. That means eligible workers could claim the deduction when they file their taxes in early 2026 for income earned in 2025. Despite the excitement over this change, there are some things the OBBBA doesn’t cover.

The new tax law makes substantial changes for the 2025 tax year. Here are 6 new tax provisions that could help you save on taxes this year.

Americans saving for retirement will benefit from increased contribution limits for their 401(k) accounts in 2025, following a decision by the IRS. However, these adjustments come alongside the sweeping changes brought by the newly signed One Big Beautiful Bill Act,

The 'One Big Beautiful Bill Act' (OBBBA), signed by President Trump on July 4, 2025, introduces a groundbreaking change for tip-earning workers: the ability to exempt a portion of their tip income from federal income tax.

The tax law that President Donald Trump signed in early July — the One Big Beautiful Bill Act — quietly raised the federal tax reporting threshold for slot winnings from $1,200 to $2,000. This is the first increase to the threshold since 1977, according to TheStreet.