This week on Tax Breaks, Forbes Senior Editor Kelly Phillips Erb is talking about job losses at IRS, taxpayer privacy, the House and Senate making progress on the budget, changing your name, taxes on tips, and more.
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00:00 Introduction 00:38 Updates on IRS layoffs, BOI reporting, and federal budget updates 09:36 Taxpayer Question 11:08 Can DOGE Access IRS Taxpayer Information? 14:39 Tax Quiz 16:03 A Deep Dive Into Taxes On Tips 18:49 Tax Industry Updates 20:29 Outro
IRS agents to the border: https://www.forbes.com/sites/kellyphillipserb/2025/02/12/if-irs-sends-its-agents-to-the-border-heres-the-work-that-wont-get-done/
No tax on tips: https://www.forbes.com/sites/peterjreilly/2024/07/28/no-tax-on-tipsbe-careful-what-you-wish-for/
FICA tip credit: https://www.forbes.com/sites/jessicaledingham/2025/02/18/service-industries-and-the-fica-tip-credit/
Hair salon industry: https://www.forbes.com/sites/kellyphillipserb/2023/10/21/taxing-tips-untangling-the-hairy-situation-between-beauty-salons-restaurants-and-the-irs/
Military Times re FSA: https://www.militarytimes.com/pay-benefits/mil-money/2025/02/20/troops-new-tax-saving-health-care-benefit-enrollment-starts-march-3/
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