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 ...

The “No Tax on Overtime” is a tax deduction that allows certain workers to deduct up to $12,500 in qualified overtime ...

The US Department of Labor issued six opinion letters on calculating overtime, bonus pay, and other standards under the Fair ...

"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 ...

The Department of Labor Wage and Hour Division recently released an opinion letter regarding calculation of hours of FMLA leave for individuals whose schedules include mandatory overtime and who may ...

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 when filing in 2026.