IRS Offers More Info On How The New Overtime Deduction Works

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

No Tax on Overtime explained (‘One Big Beautiful Bill’ tax changes)

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

IRS releases FAQs on qualified overtime pay deduction under H.R. 1

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

IRS Releases FAQs Addressing the New Deduction for Qualified Overtime Compensation

On January 23, 2026, the Department of Treasury and the Internal Revenue Service (IRS) issued Fact Sheet 2026-01, providing answers to ...
Accounting Today

IRS offers guidance on overtime deduction ahead of tax season

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

Employees Can Claim 2025 Tax Deduction for Some Overtime Pay

Among other employment measures, July’s One Big Beautiful Bill Act gives FLSA non-exempt workers a limited ability to deduct overtime pay from their federal taxes, retroactive to July 1, 2025.
The Tax Adviser

Prop. regs. issued on new qualified tips deduction

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.
DePauw

Permissible Deductions from Compensation

The University is prohibited from making improper deductions from the salaries of exempt employees and must comply with the salary basis requirements of the Fair Labor Standards Act (FLSA). Employees ...