Trump’s tax and spending bill does not eliminate taxes on Social Security, overtime and tip income, but merely provides temporary tax deductions

Trump's tax and spending law will impact education savings, gambling losses and tips. Here's a breakdown of the highlights.

President Donald Trump ’s ‘big beautiful bill’ delivers a temporary higher limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, could trigger a tax surprise for some higher earners, experts say.

Fresh off passage of the “One Big Beautiful Bill,” some anti-tax advocates hope to push the administration to change how taxable capital gains are calculated.

President Donald Trump's tax and spending bill revives and expands homeowner tax breaks — while making the current mortgage interest deduction cap permanent.

A set of provisions tucked into President Donald Trump’s new tax-and-spending law has real estate developers and affordable housing proponents cheering – though some view it as a bittersweet victory.The law makes significant changes to the Low-Income Housing Tax Credit,

If you’re banking on tax-free overtime to boost your paycheck, you’re out of luck. Trump’s “big beautiful bill” doesn’t change what you’re paid; it changes what you’re taxed. That happens at tax time, not on payday. Employers will keep withholding taxes as usual, and it’s up to you to apply the deduction — if you qualify — when you file.

Lawmakers noted their letter comes as “recent IRS staffing challenges caused by the Trump Administration” have complicated the processing of outstanding tax refunds.

Donald Trump is targeting the office snack.The president’s signature tax law allows a long-standing business deduction for the cost of food provided to employees to expire, imperiling a workplace perk popularized during Silicon Valley’s dot-com boom that is now an emblem of modern office culture.

President Trump's 'big beautiful bill' will provide a boost to the economy in the near term but just a tiny bump over the long run, forecasters say.