The Economic Times News

Up to $25,000, tax-free: A little-known IRS rule is creating a rare cash opportunity for Americans

Americans could miss up to $25,000 in tax-free tips and overtime deductions under new IRS rules. Only voluntary tips and the premium portion of overtime qualify. For 2025 filings, workers must track pay stubs and daily logs themselves. Married couples could lose $25,000, singles $12,500. Start saving records now to maximize deductions and avoid leaving money on the table.