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

A new tax break on overtime pay will save money for many workers. But the savings are less than you'd expect based on what ...

The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

Time is ticking to file your taxes. You have about a month to get your documents in order. With major changes to tax law this year, FOX13 met hourly employees who did not realize they were leaving ...

Quick-service restaurant (QSR) operators must immediately update payroll systems and job classifications to handle the complex tracking and reporting requirements of the 2025 One Big Beautiful Bill ...

The IRS has unveiled new guidelines to help taxpayers take full advantage of the deductions introduced in the One Big Beautiful Bill (OBBB). This legislation, also known as the Working Families Tax ...

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.

New IRS Schedule 1-A for 2025 introduces 4 new deductions for tips, overtime, car loan interest and seniors. These changes ...

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 ...