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

An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act ...

The Internal Revenue Service and the Treasury released a set of questions and answers on the new deduction for overtime pay ...

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 ...

WASHINGTON—President Trump’s popular “no tax on overtime” policy will help millions of workers save an estimated $90 billion through 2028, but the law is full of fine print and potential confusion ...

To receive favorable tax treatment for U.S. federal income tax purposes, the tip must be paid to an individual “in an occupation which customarily and regularly received tips on or before December 31, ...

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 ...