And this applies to all tips with whether there are tips that are cash or on credit, all tips qualify for the no tax on tips. This will estimate to boost incomes by an average of $1,300 per year. With these policies, we are rewarding everyday Americans hard work and we're not waiting. These provisions are retroactive, meaning that people will see the benefits of no taxes on tips and and overtime this year, even for hours worked. (02:44–02:51)
CLAIM
Asserts that the tax cut on tips will increase incomes by $1,300 annually.
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