Senate Unanimously Passes ‘No Tax on Tips Act’
On May 20, the Senate unanimously passed the No Tax on Tips Act, which would eliminate federal income tax on cash tips for qualified employees in traditionally tipped occupations, such as servers and bartenders. If enacted, employees earning under $160,000 in 2025 could deduct up to $25,000 in tips from their taxable income. HR professionals in the hospitality industry should prepare for potential changes in payroll processing and employee compensation structures.
An organization run by AI is not a futuristic concept. Such technology is already a part of many workplaces and will continue to shape the labor market and HR. Here's how employers and employees can successfully manage generative AI and other AI-powered systems.
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