IRS Offers More Info On How The New Overtime Deduction Works

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...
FOX8 Cleveland

No taxes on overtime pay: What to know about tax break in GOP budget bill

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. (NEXSTAR) — The House passed the “One Big ...
Investopedia

To Get This New Tax Deduction, You Must Calculate Your Overtime Pay—Here’s How

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...
JournalofAccountancy

IRS clarifies how employees can claim 2025 tip and overtime deductions

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...
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Could Tax on Overtime End for Your State This Year?

You might have heard about the elimination of the tax on overtime at the federal level. Overtime workers are entitled to 1.5 times their regular rate for working more than 40 hours per week. However, ...