INDIANAPOLIS (CONSUMER REPORTS) — Some of the biggest tax changes in years could hit your federal return right now. From untaxed tips and overtime to a new incentive for new-car buyers, to a bigger child tax credit, Consumer Reports breaks down what it means for you, and what to do if you end up owing Uncle Sam.

Let’s start with the changes tied to the One Big Beautiful Bill: First, no federal taxes on tips, which actually means you may be able to take a federal deduction on reported tip income up to $25,000.

There’s going to be a lot of taxpayers, particularly in the service industries, which are going to qualify for the deduction. If you make a certain amount, then that deduction starts to reduce until it does completely phase out.

It’s the same school of thought for the...