From Nasdaq: 2025-05-17 18:00:00

President Trump’s campaign promise to end taxes on tips is making progress with a new Republican-backed tax bill in the House of Representatives. The 389-page bill specifically mentions no taxes on tips, offering insights into how this change would work. The bill outlines guidelines for “qualified tips” and eligibility for self-employed individuals. However, details are still being ironed out, including the rule’s duration and measures to prevent employers from avoiding taxes on tip income. While the bill must pass the Senate and may undergo revisions, tax-free tips are a possibility but not yet guaranteed.

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