Under the law, eligible workers may deduct up to $12,500 of qualified overtime compensation, or up to $25,000 for married couples filing jointly. As with the new deduction for tips, the benefit phases ...

Workers misunderstanding the IRS ‘no tax on overtime’ rule could face costly penalties, and even the ‘no tax on tips’ break ...

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

The One Big Beautiful Bill Act introduced a new deduction called No Tax on Overtime for the 2025 tax filing season.

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 ...

President Donald Trump's major tax and spending law includes a four-year provision to shield overtime pay from taxation. During the 2024 campaign, Trump said he would "end all taxes on overtime." The ...