The IRS summarized several tax provisions of the One Big Beautiful Bill Act (OBBBA) in the 2026 version of Publication 15. Publication 15 is called the Employer’s Tax Guide — or sometimes, Circular E. Of special interest to Payroll pros, the IRS provided info in the publication on withholding from qualified tips and qualified overtime compensation. Under the OBBBA, employees can deduct up to $25,000 of qualified tips on their federal income tax returns through tax year 2028.