On July 4, 2025, HB 1 was signed into law. This legislation introduces tax relief for many who earn tips or overtime pay. The law takes effect Jan. 1, 2025, and it runs through Dec. 31, 2028, unless extended.

While we await full information from the IRS, this overview from allied member Clark Nuber details their best guidance so far.

Additional information:
IRS: One Big Beautiful Bill Act: Tax deductions for working Americans and seniors