EMPLOYEE TAX

TD-10044, page 840. Public Law 119-21, commonly known as the One, Big, Beautiful Bill Act (OBBBA) adds new section 224 to the Internal Revenue Code, which provides a deduction for “qualified tips” that are reported on certain IRS returns and forms. The statute requires 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.