WASHINGTON, April 13 -- Internal Revenue Service has issued a rule called: Occupations That Customarily and Regularly Received Tips; Definition of Qualified Tips.
The rule was published in the Federal Register on April 13 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains final regulations that identify occupations that customarily and regularly received tips on or before December 31, 2024, and provide a definition of qualified tips for purposes of the income tax deduction for qualified tips. These regulations affect individuals who receive tips as part of their occupation.
For more information, contact Stephanie Caden or Andrew Holubeck at 202/317-4774.
The full text of the rule can be found at: http://www....