Treasury’s No-Tax-on-Tips Proposal Excludes ‘Illegal Activity’
The Treasury Department has released a proposal regarding tax relief on tips, one of Donald Trump's key promises for the 2024 campaign. The proposal includes new prohibitions against money collected in connection with "illegal activity, prostitution services, or pornographic activity." This suggests that the tax relief would not apply to tips generated from these types of activities. The proposal aims to provide tax relief for workers who rely on tips as a significant portion of their income, but it excludes certain types of activities deemed illegal or unethical. The announcement comes as the Trump campaign continues to focus on economic issues and appeals to working-class voters ahead of the 2024 election.
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