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Thanksgiving in the Season of Taxes, Tips and Tariffs
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Join our 250K+ subscribers
Subscribe24 NOV 2025 / IRS UPDATES
The IRS has issued new guidance on tips and overtime calculations, as part of The One Big Beautiful Bill Act. The new regulations remain complex and workers could face difficulties understanding their entitlements. The IRS also continues to grapple with the fallout from the country's lengthiest government shutdown, leading to a backlog of cases that could take weeks or months to resolve. Meanwhile, Trump's back-and-forth tariffs have led to drastic price increases for items such as coffee and bananas, with the government now reversing course and removing tariffs on over 100 items.
If your Thanksgiving table felt a little pricier this year, you were not imagining things. The turkey might have been on sale, but coffee, bananas and orange juice were acting like they had joined an exclusive country club. And in classic holiday style, t...
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