The overtime deduction is temporary – it only applies for the 2025 to 2028 tax years.
On Monday, January 5, 2026, the Wage and Hour Division of the Department of Labor (DOL) issued six opinion letters addressing ...
In an era where accurate overtime calculation is crucial for fair compensation and legal compliance, Workstatus introduces its state-of-the-art Overtime Calculator, revolutionizing how businesses ...
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 ...
Discretionary income is compensation that an employer can choose to provide or not. Some bonuses, gifts, and holiday benefits are examples of discretionary income (but, ONLY when their receipt is ...
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‘No Tax on Overtime’: What to know about the deduction
The temporary provision applies to tax years from 2025 through 2028.
Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...
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