The overtime deduction is temporary – it only applies for the 2025 to 2028 tax years.

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

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The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

The Trump-era promise to shield service workers' tips and overtime from federal tax has finally arrived in the form of detailed Internal Revenue Service rules, and the fine print matters as much as ...

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 ...

On September 30, 2025, the U.S. Department of Labor (DOL) issued an opinion letter containing important reminders about how to calculate overtime pay for non-exempt employees who earn amounts in ...

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 ...

Brand new rules for tax breaks on overtime and tip income are bound to drive taxpayers bonkers when trying to file their 2025 federal income tax returns next year. Expect to face far more work and ...