The much-touted new tax breaks for tips, overtime, seniors and car loan interest have a lot of income tax filers expecting a big bump in their refunds this year – or a big cut in their tax bill.

Workers who claim the new deduction will see an average tax cut of around $1,400, although some could realize larger savings.

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing a key campaign promise of President Trump’s, with the help of Senate Democrats. Sen. Jacky Rosen (D-Nev.) ...

In a surprise move, the Senate unanimously passed the No Tax on Tips Act which would allow up to a $25,000 deduction for workers who typically receive tips as part of their compensation. In a surprise ...

Why Your Tax Refund Could Be Bigger In 2026—And What Else You Need To Know When To Expect Your Forms W-2 & 1099 In 2026—And What To Do If They’re Missing The IRS has released new guidance to help ...

The Senate unanimously passed the “No Tax on Tips Act” on Tuesday, a bill that would eliminate federal taxes on tips and that President Donald Trump made a campaign promise when running for reelection ...

WASHINGTON (AP) — The Treasury Department is moving closer to making President Donald Trump’s “ no tax on tips ” promise a reality. But new guidance released Friday tends to limit the number of tipped ...

Vice President Kamala Harris and former President Donald Trump have both endorsed a policy to eliminate federal taxes on tips, a rare instance of agreement between the two campaigns as they aim to ...