Workers keep hearing about "no taxes on overtime in 2026," but the reality is more complicated: President Trump has promoted the idea, yet available reporting shows only proposals and commentary, not ...

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

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 ...

"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 ...