Minnesota lottery a regressive tax on the working class, state data show  Minnesota Reformer
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Bitcoin Price, XRP Slide. What a Government Shutdown Would Mean for Cryptos.  Barron’s
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What FINRA’s 2025 priorities mean for crypto-focused broker/dealers.
September 30, 2025
Crypto is no longer the outlier in financial markets. For broker/dealers, digital assets are part of day-to-day operations, and regulators are taking notice. The 2025 FINRA Annual Regulatory Oversight Report signals a significant pivot: Crypto-related activities, influencer-driven marketing and decentralized finance now fall squarely within its supervisory crosshairs. Broker/dealers need to prepare accordingly.
Regulatory shifts demand a more proactive approach from compliance teams. Firms must modernize supervisory systems, invest in scalable technologies, and prepare for a regulatory environment that treats crypto with the same scrutiny as traditional financial products. As someone who’s worked closely with compliance leaders for years, I can say with confidence that those who embrace automation and clarity now will fare far better than those trying to play catch-up later.
Marketing in financial services has always been a careful balancing act. Still, new risks have entered the arena: AI-generated content, influencer-led promotions, and fast-evolving disclosures around products like crypto and registered index-linked annuities. FINRA Rule 2210 requires all communications to be fair and balanced, yet the 2025 report reveals that many firms are falling short.
Related:Democratic Lawmakers Press Treasury Secretary on Advisor AML Rule Delay
The concerns aren’t hypothetical. FINRA cited repeated failures to properly supervise influencer content, detect misleading promotional claims, and include essential disclosures—overly enthusiastic messaging around AI capabilities or crypto’s potential leads to real-world compliance failures.
We’ve seen firsthand how digital communications, especially AI-generated or distributed via influencers, can quickly become compliance risks. Automation is becoming a key strategy for firms aiming to stay ahead of regulatory scrutiny. Tools that can pre-review content for risk language, missing disclosures or misleading claims offer much-needed support in this fast-moving environment.
Employee oversight has long been a cornerstone of FINRA’s rules, but DeFi and digital assets are adding new layers of complexity. Rules 3270 and 3280 require disclosure and supervision of outside business activities and private securities transactions, yet many firms treat these areas lightly.
That approach won’t hold anymore. FINRA is asking firms to conduct due diligence on all OBAs and PSTs, including those in DeFi, and to maintain thorough records and supervisory processes. It’s not enough to rely on employees voluntarily disclosing these activities; firms need structured workflows that standardize disclosure and enforce follow-through.
Related:DOL Sides with Morgan Stanley in Deferred Compensation Dispute
Firms are increasingly turning to configurable workflows to manage the pre-clearance of activities tied to traditional finance and DeFi. Structured escalation paths, audit trails, and real-time alerts are becoming standard expectations, helping compliance teams surface potential conflicts early and address them before they become violations.
Market abuse is another growing concern. FINRA Rule 3110 (Supervision) mandates that firms must actively detect and respond to suspicious trading, including insider activity and manipulative behaviors. Yet the 2025 report found lapses in firms’ ability to investigate and escalate red flags promptly.
What makes this more urgent is the way crypto trading blurs traditional boundaries. Employees may use decentralized platforms or wallets that operate outside legacy systems, complicating surveillance. Broker/dealers must bring this activity into the fold with robust trade monitoring.
Effective surveillance of employee and firm trading activity is a growing priority for broker/dealers, particularly as trading environments become more complex. Real-time alerts, customizable risk parameters, and integrated investigation workflows are now critical tools for compliance teams working to identify irregular patterns and respond swiftly while maintaining a defensible audit trail.
Related:SEC, CFTC Start Bid to Align Agencies’ Rules for Wall Street
The common thread in FINRA’s updated priorities is a demand for modern supervision. The days of spreadsheets, siloed systems, and manual approvals are over. Regulators are moving faster, and broker/dealers need systems that can keep up.
Firms are under increasing pressure to centralize oversight, minimize human error, and react to real-time risk—whether reviewing marketing content, managing DeFi disclosures, or investigating suspicious trading. Regulators now expect firms to detect issues, explain decisions and demonstrate why no action was taken when risks were missed.
The right automation tools provide operational efficiency and a foundation for sustainable compliance. They allow teams to focus on strategy and judgment instead of playing defense with dated processes. Most importantly, they give regulators confidence that firms take their responsibilities seriously.
FINRA’s latest guidance signals a clear shift from suggestion to enforcement. Broker/dealers operating in the digital space must take meaningful steps now to modernize their compliance programs. This includes reassessing existing supervisory procedures, integrating technology solutions that provide visibility and control, and staying engaged with new guidance as it emerges.
There’s no question that compliance in the age of crypto presents new challenges. But with the right tools and a proactive mindset, broker/dealers can meet these challenges head-on—and build trust with regulators and the investors they serve.
Steve Brown
Head of Business Development, StarCompliance
Steve Brown is Head of Business Development at StarCompliance.
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Updated 30 September 2025 at 17:17 IST

The Kerala Lottery results for 30/08/2025, featuring the Sthree Sakthi Lottery SS 487 draw, will be announced live at 3 PM today. The first prize is a whopping ₹1 crore! Check the official winners list to see if you’re among the lucky winners. Stay tuned to Republicworld Live for the latest updates.  

The Sthree Sakthi Lottery SS 487 draw for 30/08/2025, will be held today at Gorky Bhavan, near Bakery Junction, Palayam, Thiruvananthapuram. The Kerala lottery results for this draw will be announced shortly. 
Sthree Sakthi Lottery SS 487 Lucky Winner: SO 500622 (KOLLAM)
Agent Name: P BABU 
Agency No.: Q 2004
Sthree Sakthi Lottery SS 487 Lucky Winner: SR 735215 (GURUVAYOOR)  
Agent Name: RAGIL V S 
Agency No.: R 9862  
Sthree Sakthi Lottery SS 487 Lucky Winner: SN 767729 (IRINJALAKKUDA)  
Agent Name: K L VARGHESE 
Agency No.: R  7298 
LUCKY NUMBER FOR 1ST PRIZE OF RS 1 crore IS: SO 500622 (KOLLAM)  
Agent Name: P BABU  
Agency No.: Q 2004    
LUCKY NUMBER FOR 2ND PRIZE OF RS 30 LAKHS IS: SR 735215 (GURUVAYOOR)  
Agent Name: RAGIL V S 
Agency No.: R 9862 
LUCKY NUMBERS FOR 3RD PRIZE OF RS 5 Lakh ARE: SN 767729 (IRINJALAKKUDA)  
Agent Name: K L VARGHESE 
Agency No.: R  7298 
Consolation Prize:  
SN 500622
SP 500622
SR 500622
SS 500622
ST 500622
SU 500622
SV 500622
SW 500622
SX 500622
SY 500622
SZ 500622 
LUCKY NUMBERS FOR 4TH PRIZE RS 5,000 ARE: 0800  1938  2330  2525  2917  3264  3337  3808  3976  4628  5337  5905  6524  6746  7649  7855  8250  8637  9191    
LUCKY NUMBERS FOR 5TH PRIZE RS 2,000 ARE: 1382  3998  7109  7616  8889  9800 
LUCKY NUMBERS FOR 6TH PRIZE OF RS 1000 ARE: 0267  0285  1316  1493  1762  1972  2175  2518  3858  4159  4383  4551  4583  4782  4800  5065  5864  6401  7686  7908  8529  8535  8902  9353  9737  
LUCKY NUMBERS FOR 7TH PRIZE OF RS 500 ARE: 0092  0121  0238  0552  0576  0838  0871  0875  1080  1186  1199  1320  1489  1539  1643  1947  2092  2142  2247  2334  2340  2658  2807  2899  3093  3116  3159  3164  3282  3404  3427  3578  3673  3745  3887  4045  4173  4178  4326  4494  4499  4579  4612  4640  4839  5043  5500  5584  5715  5740  6028  6164  6222  6322  6639  6707  6729  6744  6961  7324  7369  7606  7609  7727  7972  8267  8377  8383  8640  8703  8928  8929  9301  9488  9642  9875    
LUCKY NUMBERS FOR 8TH PRIZE OF RS 200 ARE: 0175  0249  0395  0515  0523  0528  0759  0992  1015  1029  1404  1545  1699  1719  1950  2053  2068  2103  2125  2126  2262  2294  2311  2367  2405  2643  2675  2704  2705  2825  2841  2886  2913  2955  3922  4048  4123  4183  4187  4356  4507  4548  4685  4716  4797  4814  4819  4853  4960  4977  4996  5010  5111  5143  5172  5261  5620  5843  6051  6205  6207  6493  6564  6651  6714  7083  7084  7205  7244  7349  7397  7435  7705  7786  7802  7829  8191  8201  8227  8550  9054  9339  9381  9444  9495  9542  9593  9733  9848  9849    
LUCKY NUMBERS FOR 9TH PRIZE OF RS 200 ARE: 0001  0014  0044  0134  0181  0231  0244  0298  0499  0526  0549  0554  0662  0740  0889  0962  1148  1162  1223  1460  1718  1905  2001  2016  2099  2284  2312  2322  2432  2501  2526  2579  2750  2894  2925  3063  3077  3199  3267  3276  3356  3406  3411  3412  3537  3543  3573  3630  3806  3818  3854  4011  4104  4139  4192  4208  4224  4249  4291  4333  4362  4370  4413  4466  4558  4602  4762  4829  4891  4904  5034  5053  5140  5208  5344  5415  5434  5511  5524  5531  5557  5708  5711  5725  5820  5823  5919  6012  6105  6317  6343  6411  6478  6686  6747  6792  6818  6898  6922  6932  6976  6988  7028  7127  7172  7185  7233  7237  7249  7273  7280  7460  7546  7551  7562  7619  7647  7670  7737  7738  7828  7831  7875  7936  8206  8237  8260  8292  8312  8321  8467  8584  8600  8618  8666  8955  8976  8997  9013  9047  9385  9418  9435  9463  9707  9712  9829  9853  9933  9968 
Sthree Sakthi Lottery SS 487 Tuesday Draw Today Prize Details  
1st Prize: Rs 1 Crore  
2nd Prize: Rs. 30 lakhs  
3rd Prize: Rs. 5 lakhs  
(Note: Lotteries should only be played sensibly because they can be addictive. This page’s content is for informational purposes only; it is not meant to be interpreted as guidance or inspiration. Republic TV Digital doesn’t in any manner advertise lotteries.)  
Disclaimer: The information provided in this article is for informational purposes only. 
Published By : Animesh Bhardwaj
Published On: 30 September 2025 at 17:17 IST

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BlockDAG’s F1® Partnership Fuels Growth as XRP and Cardano Slip  FinancialContent
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Japanese public company Convano Inc. (6574.T) has purchased an additional 85.8 Bitcoins, worth approximately 1.457 billion yen. The BTC purchase was also executed over two consecutive days.
Convano bought 29.71 BTC on September 29 at an average price of 16.7 million yen per BTC. The purchases were in the form of corporate bonds and cash reserves.
On September 30, the digital asset treasury firm purchased an additional 56.12 BTC at an average price of 17.1 million yen, funded similarly through corporate bonds and company reserves.
JUST IN: Japanese public company Convano Inc (6574.T) buys 85.8 additional #Bitcoin and now holds a total of 605.75 BTC.
🔸Bitcoin 100 Ranking: 57🪜🔸 pic.twitter.com/Da35P8PmSO
— BitcoinTreasuries.NET (@BTCtreasuries) September 30, 2025

Convano has continued its aggressive Bitcoin accumulation strategy in 2025 and now holds a total of 605.75 BTC. On August 29, the treasury firm purchased 155 BTC, 200 BTC, and 85 BTC on August 22 and July 31, respectively. All purchases were made using a mix of bonds, stock acquisition rights, and company internal funds. Convano’s acquisitions are worth a total investment of roughly 10.4 billion yen.
The Japanese firm started as a chain of nail salons in Japan and has since transitioned into a Bitcoin treasury company. Convano disclosed a clear goal of holding 434 billion yen ($3 billion) in Bitcoin, targeting 21,000 BTC by March 2027. 
Once the company attains its goal, it will have acquired 0.1% of Bitcoin’s total supply. Cryptopolitan previously reported that Convano plans to become one of the world’s largest corporate holders of Bitcoin.
“Our goal is clear. By March 2027, we aim to acquire 21,000 BTC and become one of the world’s leading Bitcoin-holding companies.”
-Taiyo Azuma, Director of BTC Holding Strategy Office at Convano.
Convano acknowledged that it won’t raise additional capital for its treasury strategy, but will aim to fund Bitcoin acquisitions primarily through its BTC reserves. As part of its Bitcoin Income Business, the firm’s approach also includes options trading to generate incremental Bitcoin revenue. The initiative allows the company to compound its holdings without relying on external fundraising.
Kamishimoto Aya, Convano’s President and CEO, has acknowledged that the firm is not currently reflecting Bitcoin acquisitions in its financial forecasts for the fiscal year ending March 2026. Convano’s auditing firm is currently discussing accounting operations, with a potential shift toward the revaluation model under IFRS to capture the value of digital assets more accurately.
Azuma told Bloomberg that Convano’s BTC pivot is a strategic response to macroeconomic challenges. The yen has plummeted by 21% against the dollar over the past decade, which has hiked costs for wages and raw materials in its consumer service business.
Azuma mentioned that the company began to consider Bitcoin due to persistent yen depreciation and geopolitical risks. The firm’s executive said Bitcoin is a long-term store of value, and believes that the perceived risk in the digital asset’s price volatility is actually beneficial. 
He argued that Convano welcomes Bitcoin price drops because lower prices allow the company to acquire more BTC, and higher volatility increases the company’s revenue. Azuma added that Convano prefers BTC’s combination of low rates and high volatility because it creates optimal conditions for the company to reach the 21,000 BTC goal.
Convano’s treasury strategy follows Japan’s Metaplanet Bitcoin acquisition initiative, which has helped the company accumulate nearly 25,555 BTC, ranking fifth among other Bitcoin treasury companies.
Bitcoin Treasuries shows that there are currently seven Japanese firms ranking among the top 100 public firms holding BTC. Strategy leads with more than 640K BTC in its holdings, followed by MARA Holdings with 52,477 BTC and XXI with 43,514 BTC. 
Matthew Sigel, VanEck’s head of digital assets research, argued that Bitcoin treasury strategies by public companies rest on shaky ground with rising risks that could wipe away shareholder value. The tech executive believes that when stocks trade above their BTC net asset value (NAV), issuing new equity generates premiums.
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Bitcoin’s earliest adopters have endured more than a decade of extremes: sudden crashes, exuberant bull runs, and winters that tested conviction. That experience shaped a community of investors who are skeptical of hype but responsive to projects that present clarity. Veterans who once relied on simple buy-and-hold strategies now search for models where mechanics are transparent and rewards are structured in advance.
The new cycle has surfaced one such contender. XRP Tundra is gaining traction among those who prefer defined economics over speculative promises. Its dual-token system, staking architecture, and published launch values are being discussed as alternatives to the uncertainty often associated with early-stage offerings. For long-term Bitcoin holders used to navigating harsh conditions, the Tundra presale suggests that spring could follow winter.
XRP Tundra is currently in Phase 4 of its presale. Participants purchase TUNDRA-S at $0.068, receive a 16% bonus in tokens, and are also allocated free TUNDRA-X tokens referenced at $0.034. Launch values are pre-set at $2.50 for TUNDRA-S and $1.25 for TUNDRA-X, providing a fixed benchmark between presale entry and market debut.

The presale design is anchored by supply allocation. 40% of the total TUNDRA-S supply is reserved for presale, making early participants central to circulating supply once trading begins. The remaining allocations cover liquidity, reserves, partnerships, ecosystem expansion, and team shares under vesting schedules. This structure provides visibility over token flow, enabling investors to model potential dilution and circulation rather than guessing at future supply.
XRP Tundra separates functions across two chains. TUNDRA-S is deployed on Solana, serving as the utility and yield token. It interacts with Solana’s high-throughput DeFi environment, using the chain’s Proof of History and parallel execution to manage yield and liquidity functions efficiently.
TUNDRA-X is issued on the XRP Ledger, focusing on governance and reserves. Through XRPL’s settlement guarantees and compliance orientation, TUNDRA-X anchors treasury decisions and voting rights. The dual-token model ensures that yield generation and governance are not competing for the same token’s value, a common weakness in single-token ecosystems. Investors gain exposure to Solana’s performance infrastructure and XRPL’s governance security simultaneously.
For XRP holders, staking is the most anticipated feature of Tundra. The system is structured around Cryo Vaults, which allow XRP to be locked for durations between seven days and three months, with longer commitments producing higher yields. Frost Keys, distributed as NFTs, enhance returns by raising APY or reducing lock-up times.

Together, Cryo Vaults and Frost Keys are designed to deliver yields up to 30% APY. While staking is not yet live, presale buyers are guaranteed access once it launches. This guarantee turns presale participation into more than just discounted token entry — it secures a position in the yield layer from the start. Community explainers, such as Crypto Infinity’s review, have examined how Vaults and Keys combine into a flexible staking framework tailored for long-term holders.
XRP Tundra has published independent verification to strengthen investor confidence. Cyberscope audited the Solana-based contracts, Solidproof reviewed additional components, and Freshcoins provided a further audit. In parallel, the team has completed Vital Block KYC verification, confirming identity and accountability.
For Bitcoin veterans accustomed to analyzing risk, these published records contrast with presales that often operate under opaque conditions. Audits and KYC documents make it possible to evaluate both the technical foundation and the team behind the project before committing capital.
Bitcoin holders are familiar with volatility and the risks of speculative launches. XRP Tundra offers a different proposition: presale entry at $0.068 per TUNDRA-S, a 16% token bonus, free allocations of TUNDRA-X, fixed launch values of $2.50/$1.25, staking access with up to 30% APY, and published audit and KYC documentation. The mechanics are clear before the project goes live, giving early participants measurable expectations.
For veterans who endured multiple winters, the appeal lies in structure. XRP Tundra does not ask buyers to guess at supply flows, launch values, or staking parameters. It lays them out in advance. In a market still prone to hype cycles, that approach explains why Bitcoin investors are braving new territory for the prospect of a spring harvest.

Secure your Phase 4 allocation today and follow XRP Tundra updates to be first in when staking activates.
Website: https://www.xrptundra.com/
Medium: https://medium.com/@xrptundra
Telegram: https://t.me/xrptundra
X: https://x.com/Xrptundra
Contact: Tim Fénix, contact@xrptundra.com
Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

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Winning numbers drawn in Monday’s Washington Match 4  New Haven Register
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A retired couple, Jerry and Marge Selbee, used their knack for numbers to “crack the code” of state lottery games, raking in an impressive $26 million.
The couple, from Evart, Michigan, didn’t keep their secret to themselves but instead helped many others in their hometown beat the system.
Their intriguing journey was so captivating that it was turned into a movie titled Jerry and Marge Go Large after they sold the rights to their story to a Hollywood studio.
Jerry, a mathematics degree holder, spotted a golden opportunity back in 2003 when he came across brochures for a new lottery game called Winfall. He quickly deciphered how to tilt the odds in his favor.
The game had a unique feature known as “the roll down”.In the event that no one won the $5 million jackpot, the money would be distributed to the next tier of prizes for those who matched five, four, and three numbers in the game.
The lottery organizers would announce when this was happening, which was Jerry’s cue to buy thousands of tickets to increase his chances of winning. In his first attempt, Jerry invested $3,600 in Winfall tickets and walked away with $6,300.
When he tried again, he nearly doubled his $8,000 stake. After revealing his strategy to his astonished wife, the couple decided to sell the convenience store they had run for 17 years.
They started playing the game with hundreds of thousands of dollars at a time, even establishing an investment firm called GS Strategies and inviting friends to buy shares for $500 each.The Winfall lottery game’s demise due to poor ticket sales didn’t deter the astute Selbee couple; they simply shifted their focus to a Massachusetts lottery game. However, their strategy was revealed when the Boston Globe brought it to light.
Mr. Selbee told CBS News, “It is actually just basic arithmetic. It gave you the satisfaction of being successful at something that was worthwhile to not only us personally but to our friends and our family.”
He also shared his surprise at the absence of competitors: “The only thing I found really remarkable is nobody else really seemed to grasp it.”
After meticulous calculations and tax considerations, the Selbees walked away with a net profit of $8 million. They invested in home improvements and set up educational funds for their grandchildren and great-grandchildren with their well-earned profits.
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Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to claim tax breaks on tips, overtime pay, car loan interest and more.
An early draft copy of a new, two-page, federal income tax form called Schedule 1-A has been released by the Internal Revenue Service.
Schedule 1-A will be filed with 2025 federal income tax returns that will be filled out next year to claim:
All four of these new deductions are available to eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction.
But remember, income limits and other restrictions also apply to these limited tax breaks, which all currently run from 2025 to 2028.
You’ll want to keep track of a long list of details associated with these tax breaks as we get closer to year-end. The draft for Schedule 1-A gives some specifics.
To claim the new deduction on car loans on the 2025 tax return you file next year, for example, the schedule includes a spot where you’ll need to list the vehicle identification number associated with the car loan being claimed. To claim a tax break on the 2025 return, the auto loan must be taken out in 2025 to buy a new car with its final assembly in the United States. The tax break will not apply to car loans taken out to buy a used car — or new cars or new trucks with final assembly outside of the United States.
Seniors are looking at seven lines on that draft schedule just associated with the “enhanced deduction for seniors.” Those who are age 65 and older may claim an additional deduction of $6,000 beginning on 2025 returns. But higher income seniors receive a smaller tax break or no tax break because the deduction starts phasing out for those with a modified adjusted gross income of $75,000 for singles and $150,000 for joint filers.
All four of these tax deductions created in the One Big Beautiful Bill Act, which was signed into law by President Donald Trump on July 4, will be treated as what’s called a “below-the-line deduction.”
What it means: You’ll be able to reduce your taxable income. But you won’t be reducing your adjusted gross income when you claim these special deductions, said Tom O’Saben, an enrolled agent and director of tax content and government relations for the National Association of Tax Professionals.
Above the line? Below the line? It all sounds like somebody is ready to cross some line. But the distinctions are essential in the tax universe.
Early on, some experts initially thought some new deductions in the mega tax bill could be above-the-line tax breaks. But they won’t be.
What’s the difference? It’s not quite like heaven and Hades. But it’s close. Above-the-line is better for many people; below, not so pleasant for some.
A below-the-line deduction — which is how car loan interest, tips and some other new breaks will be treated — is subtracted after your adjusted gross income has been determined. It will not reduce your AGI and not help you tap into some credits or other tax breaks.
In general, O’Saben noted, above-the-line deductions are often more valuable because they reduce your adjusted gross income, making some people more likely to be eligible for other tax breaks and benefits that phase out once you hit higher AGI levels.
“While less advantageous than the above-the-line deduction since it does not reduce AGI, the below-the-line deduction is available to taxpayers whether they itemized deductions or not, unlike an itemized deduction,” said Mark Luscombe, principal analyst for Wolters Kluwer Tax & Accounting in Riverwoods, Illinois.
Only roughly 10% of taxpayers now itemize their deductions; most people claim the standard deduction.
So, it remains welcome news that “no tax on tips,” the deduction for car loan interest and other new deductions won’t apply just to those who itemize.
But if you’re expecting to lower your AGI by claiming one of these new Big Beautiful Bill tax breaks, forget about it.
Lowing your AGI can unlock several additional tax benefits, O’Saben said, such as the earned income tax credit, the child tax credit and education credit that have income limitations.
Your ability to claim some deductions, like medical expenses, depends a great deal on your AGI. If you itemize your deductions for a taxable year on Schedule A, the IRS notes, you may be able to deduct the medical and dental expenses you paid to the extent these expenses exceed 7.5% of your adjusted gross income for the year. A lower AGI would make it easier to exceed the threshold.
In addition, contribution limits or deductibility for IRAs and other retirement plans depend on AGI. A high AGI can increase the cost of Medicare Part B and D premiums.
Taxpayers already are taking a below-the-line deduction on the 1040 form — after calculating their adjusted gross income — when they claim the standard deduction or itemized deductions, such as mortgage interest and charitable contributions.
As we get closer to tax season, we’ll be hearing more clarifications about how taxpayers can expect to claim the new deductions for tips, overtime, seniors and car loan interest.
The draft Schedule 1-A, according to Luscombe, sets forth various requirements for each new deduction, some of them appearing in the calculation itself on the form. 
“Instructions for Schedule 1-A have not yet been released and may provide some additional helpful guidance,” Luscombe said.
Some clarity, for example, was released by the IRS and the Treasury Department on Sept. 19 regarding how some tips will be treated.
The tax break applies to cash tips, not gifts received. But Treasury spelled out that those tips could be given by check, credit card or debit card or even gift cards and still count as a “cash tip.”
A casino chip given as a tip would count toward a tax deduction, according to a Treasury official, as tangible or intangible tokens that are easily exchanged for a fixed amount in cash would be covered.
Most digital assets, such as bitcoin, would not count as a cash tip that can be claimed under the new tax deduction. These digital assets will see their value constantly fluctuating.
The general definition of “cash tip” for this tax break includes tokens readily “exchangeable for a fixed amount in cash.”
As a result, a newer digital currency known as stablecoins would qualify for the deduction because they don’t see fluctuating values and tend to be exchangeable for a fixed amount. Stablecoin is type of cryptocurrency tied to the value of an asset like the U.S. dollar.
Also, Treasury clarified that these tips must be received as part of legal transactions — and not for illegal activities, such as prostitution. Tips relating to pornographic activity, according to Treasury, also would not qualify for the tax break.
Qualified tips must be reported on a “Form W-2, Form 1099, or other specified statement furnished to the individual or reported directly by the individual on Form 4137,” according to IRS guidance.
The tip income needs to be reported on the return. Then, the tax filer will need to fill out the form for “additional deductions” and claim qualified tip income received in the year.
The maximum annual deduction for tip income is $25,000 per return.
The deduction reduces your taxable income. According to an example given by the Bipartisan Policy Center, a single taxpayer earning $50,000 — including $5,000 in tips — could save $600 with the new tax deduction on tip income.
Employers still are required to withhold taxes from each paycheck for Social Security and Medicare, which are referred to as FICA or payroll taxes. Workers still must report all tips to their employers if they total $20 or more in a single month.
The IRS and the U.S. Treasury Department has issued an updated list of nearly 70 occupations that “customarily and regularly received tips” on or before Dec. 31, 2024, that will apply to the tip-related tax deduction.
The most recently released list includes bartenders, water taxi operators, home movers, golf caddies, valet attendants, casino dealers, clowns, pizza delivery drivers, hairstylists, shampooers and more.
In an update released Sept. 19, the IRS and Treasury indicated that qualified tips can be received from customers through a tip pool.
As part of the Sept. 19 news, the Treasury and IRS noted that comments from the public can be submitted within 30 days through Regulations.gov. Comments on the proposed regulations are due by Oct. 23.
Luscombe said the invitation for comments on the deduction for tip income indicates that the IRS is probably open to considering some additions to its list of occupations for qualified tip recipients.
And yes, all tips will not qualify for the “no tax on tips” break.
Those with higher incomes will receive a smaller tax break or none at all, depending on their income. The deduction relating to taxes on tips phases out, or gets smaller, for taxpayers with modified adjusted gross income over $150,000 if single or above $300,000 for married couples filing a joint return.
The “no tax on tips” deduction is not available for taxpayers who claim married filing separately.
Taxpayers must include a valid Social Security number on the return.
What won’t change: Tips will not qualify for the deduction if they are received in the course of certain specified trades or businesses — including the performing arts, health, athletics and other professional occupations, like law, brokerage services and accounting, according to the Treasury Department.
As I reported in early August, some waitstaff at restaurants that have mandatory tip policies will be shocked to discover that a big chunk of their tip income won’t qualify for a tax break.
Tips must be paid voluntarily by the customer and not be subject to negotiation, according to a Treasury official.
Automatic service charges or automatic gratuities that a customer has no discretion to modify or disregard are not going to be viewed as “qualified” tips for the tax break, according to a Treasury official. The tips must be voluntary, not mandatory.
Specifically, the IRS and Treasury referred to an example of a restaurant that imposes an automatic 18% service charge for large parties and distributes that amount to waiters, bussers and kitchen staff.
“If the charge is added with no option for the customer to disregard or modify it, the amounts distributed to the workers from it are not qualified tips,” according to IRS and Treasury guidance issued Sept. 19.
The new, special tax deduction on tips is retroactive and applies to eligible tip income earned in all of 2025 — going back to Jan. 1.
Of course, the mega tax bill passed this summer, and many employers likely didn’t update their systems for recording tip income early in the year with expectations of the new tax rules. More guidance will be ahead for the transitional tax year when people file 2025 income tax returns in 2026.
Contact personal finance columnist Susan Tompor: stompor@freepress.com. Follow her on X @tompor.

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