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

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 ...

Extra work hours in the week can mean extra pay. Now, it can also mean a new tax benefit you can claim on your return come tax time. Starting Jan.

"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 ...

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 ...

Taxes for tipped workers and people getting overtime are starting to look a lot nicer. After the House of Representatives passed a huge tax and spending bill Thursday, the major question is what will ...

"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 ...

In a sweeping change set to reshape the tax landscape for millions of American workers, President Donald Trump signed the massive tax bill into law on July 4. The measure fulfills one of his campaign ...

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 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 ...

President Trump's promise of "no tax on tips" and "no tax on overtime" is finally moving from campaign slogan to practical reality, as the Internal Revenue Service begins spelling out how workers and ...