U.S. Department of Treasury and IRS Issues 2025 Penalty Relief Notice under the OBBBA
On November 5, 2025, the U.S. Department of Treasury and Internal Revenue Service issued Notice 2025-62, which relieves employers from penalties relating to certain reporting requirements under the One Big Beautiful Bill Act (OBBBA). The OBBBA requires employers to comply with reporting requirements relating to qualified tips, tipped occupations, and