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 U.S. Congress’s passage of the One Big Beautiful Bill Act (H.R. 1 of 2025) introduced several new sections to the U.S. Tax Code aimed at reducing the tax burden on workers. For restaurants, hotels ...

"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 ...

You’ve been counting on your paycheck to cover bills, groceries, or maybe a small treat, only to find it’s way less than expected. For countless American workers, paycheck deductions can feel like a ...

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.

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