Social Security Report

IRS Issues Explains Requirements for “No Tax on Tips”

Internal Revenue Bulletin: 2026-18 dated 4/27/2024 provides amplified guidance on this section of Public Law 119-21, commonly known as the One, Big, Beautiful Bill Act (OBBBA). The guidance notes the rquirement that “… the Secretary of the Treasury publish a list of occupations that customarily and regularly received tips on or before December 31, 2025, and establish other requirements concerning qualified tips. These final regulations identify occupations that customarily and regularly received tips on or before December 31, 2024, define “qualified tips,” and provide guidance on other requirements of section 224. TD10044. Published April 13, 2026.” Read the full IRS Bulletin here…

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