The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

The IRS has announced that new tax-reporting rules are forthcoming for overtime compensation under recent federal tax ...

A new deduction allows workers to subtract part of their overtime wages from their 2025 taxable income, lowering some taxpayers' bills in April. However, workers will need to calculate their deduction ...

Millions of Americans can now keep more of their overtime earnings courtesy of language included in President Donald Trump’s “Big Beautiful Bill.” The legislation includes the creation of an above-the ...

Workers keep hearing about "no taxes on overtime in 2026," but the reality is more complicated: President Trump has promoted the idea, yet available reporting shows only proposals and commentary, not ...

There will be no tax on tips and no tax on overtime this tax season. Here's what to know about deductions and who qualifies ...

"Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay – such as the 'half' portion of 'time-and-a-half' compensation," the IRS said. The ...

Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...

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