On the Books: Navigating the Working Families Tax Cut—What you need to know

Published on December 2, 202544 minute listen

The Working Families Tax Cut, signed into law earlier this year as part of the One Big Beautiful Bill, introduces several compliance changes that will impact payroll and tax filing for tax year 2025. This episode features Tanner Arnold, staff program manager on the Intuit Payroll team, who dives into the specifics. Learn about the provisions for "no tax on tips" and "no tax on overtime," and understand the critical distinction between qualified and non-qualified tips and overtime.

Tanner explains what accountants need to know about these changes, and discusses what resources Intuit is providing to accountants and their clients. The episode also touches on future changes for 2026, including the introduction of new retirement accounts, and what you can do today to prepare for these new compliance requirements.

For more information:

What clients need to know about the One Big Beautiful Bill

Webinar replay: Big Beautiful Bill Act—Analytics and Insights

Details on tips and overtime from the IRS

Details on occupations that qualify for tips deductions

QuickBooks Workforce Portal

Details on the Working Families Tax Cut and how it affects payroll

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