In the latest installment of our Payroll Brass Tax podcast series, Victoria Vish (shareholder, Dallas) and Stephen Kenney (associate, Dallas) discuss the implications of the recently signed "One Big Beautiful Bill," highlighting the bill's no-tax-on-tips and no-tax-on-overtime provisions. Stephen and Victoria also explain the expansion of the Federal Insurance Contributions Act (FICA) tax credit to include the beauty and aesthetics industry. They conclude the episode with a discussion on the anticipated Internal Revenue Service (IRS) guidance and its potential impact on reporting requirements.
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