Just days before the April 15 tax deadline, the Internal Revenue Service issued final regulations and clarifications for jobs and situations that qualify for the so-called “no tax on tips” deduction. A preliminary list issued in September gave tax filers some earlier guidance on “no tax on tips” occupations. The list is a long one but so, too, is the list of reasons you might qualify — or not…
The final rules name more than 70 qualifying occupations — including gas pump attendants and visual artists — and set the exact income thresholds that determine whether tipped workers keep the full $25,000 deduction or lose it entirely. Read More Make – Money Talks News
#money