LAS VEGAS (KTNV) — We're learning more about President Donald Trump's "No Tax on Tips" promise, which hits home for many who live and work here in Southern Nevada.
On Friday, the Internal Revenue Service unveiled regulations about the new tax deduction, and it's open for public comment.
WATCH | How to voice your thoughts on the proposed regulations
Only people in jobs that regularly got tips before the law can now take advantage of it, with deductions capped at $25,000 per year.
Married people claiming the deduction must file jointly and can only get a total of $25,000 per family — even if both spouses earn tips.
The IRS estimates the new law will boost tipped workers' take-home pay by about $1,300 per year.
Before the changes to the tax code are made official, you have until October 23 to make your opinions known to the IRS.
If you want to comment on the regulations, you can let the IRS know what you think via the Federal eRulemaking Portal at www.regulations.gov. You're asked to indicate that your comment is about IRS and REG-110032-25.
We've spoken to locals who said while they are grateful for the No Tax on Tips push, they're not so happy about the $25,000 cap on deductions and the requirement to file jointly if married.
Steve Sebelius reports: No tax on tips is law, but not everyone's happy
These provisions and more, including the specific jobs eligible for the deduction, are outlined in recent guidance issued by the IRS
Channel 13 senior political reporter Steve Sebelius contributed to this report.