President Donald Trump's "big beautiful bill" added the "no tax on overtime" deduction for 2025 returns. Here's how to claim the tax break.

There’s some fine print involved.

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

Under the law, eligible workers may deduct up to $12,500 of qualified overtime compensation, or up to $25,000 for married couples filing jointly. As with the new deduction for tips, the benefit phases ...

"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 ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

(CNN) — Many Americans who work overtime will get a break on their taxes for the next few years — but it may not be as hefty as they think. Congressional Republicans sought to fulfill President Donald ...