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 ...
JD Supra

DOL Confirms Nondiscretionary Incentive Bonuses Must Be Included in the Regular Rate for Overtime

The U.S. Department of Labor’s Wage and Hour Division (DOL) recently issued Opinion Letter FLSA2026-2 confirming that ...
Hosted on MSN

To get this new tax deduction, you must calculate your overtime pay—here’s how

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 ...
Detroit Free Press

'No tax on overtime': When it will work for you and when you'll still pay taxes

"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 ...

Feds caution employers about bonuses, pay structures in overtime compliance

The U.S. Department of Labor also addressed exemptions for learned professionals and commission-earning employees under the ...
Business.com on MSN

How to calculate gross and net pay

In order to pay your employees correctly each pay period, you need to know how to calculate gross and net pay. Learn how to ...
AOL

“No Tax On Overtime” In Action: Will Your 2025 Tax Return Deliver A Big Boost?

Millions of Americans could soon see bigger paychecks thanks to the new “no tax on overtime” policy. This unusual tax break focuses on extra hours worked, making waves for its potential to boost ...