Treasury released a list of 68 occupations "customarily and regularly receiving tips" as of Dec. 31, 2024, to establish eligibility. However, the agency said certain "specified service trade or businesses" (SSTBs) will be excluded, echoing limitations in Trump's 2017 tax overhaul. To qualify, tips must be voluntary and reported to the employer so they appear on the worker's W-2 form. Congressional budget analysts project the "no tax on tips" provision will increase the federal deficit by roughly $40 billion through 2028. The nonpartisan Joint Committee on Taxation estimated in June that the tax break will cost $32 billion over 10 years.