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

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.

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 ...

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 ...

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 ...

"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 ...

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 ...

(CNN) — Many Americans who work overtime will get a break on their taxes for the next few years — but it may not be as hefty as they think. Congressional Republicans sought to fulfill President Donald ...

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