Tips and Payroll Taxes

Sen. Cruz introduces bill to make tips exempt from federal income taxes

Tips payroll tax days might be numbered

A new House GOP bill aims to end taxation on tips after former President Trump promoted the idea earlier this month. Greene said on the platform, "President Trump is right, no one should be taxed on the tips they receive for providing a good service."

What the additional IRS funds get US!

Biden administration officials said after evaluating the practice that there are no economic grounds for these transactions, with Deputy Treasury Secretary Wally Adeyemo calling it “really just a shell game.” The officials said the additional IRS funding provided through the 2022 Inflation Reduction Act had enabled increased oversight and greater awareness of the practice. “These tax shelters allow wealthy taxpayers to avoid paying what they owe," IRS.

QB

How to migrate your data In QuickBooks Desktop, log in as an admin to the company file you need to import. Go to the Company menu, then select Export Company File to QuickBooks Online. Select Get started. Click Select destination, then sign in to your QuickBooks Online account.