Taxes March 19, 2026
‘No Tax on Overtime’ Falls Short of Expectations for Many Workers
Across the U.S., workers are discovering that a new overtime tax break is proving less generous—and more complicated—than expected.
Taxes March 2, 2026
IRS Releases New Form Taxpayers Will Use to Claim Key OBBBA Tax Deductions
The IRS has published Schedule 1-A and its related instructions for tax year 2025 so eligible taxpayers can claim tax breaks on tips, overtime, and auto loans, as well as the enhanced deduction for senior citizens, introduced in the One Big Beautiful Bill Act.
Taxes March 2, 2026
Indiana Adopts No Tax on Tips, Overtime Only for 2026 Tax Year
Eligible Hoosiers whose earnings this year include gratuities or overtime will not be required to pay state or county income tax on the money when they file in 2027.
Taxes January 27, 2026
IRS Posts FAQs About New OBBBA Deduction for Overtime Pay
The Treasury Department and the IRS on Jan. 23 issued a fact sheet containing frequently asked questions related to the new tax deduction for qualified overtime compensation under the One Big Beautiful Bill Act.
Taxes November 25, 2025
A Shifting Trump-Era Landscape in Public Finance
State and local financial managers face the impact of federal aid cutbacks, plus new rules and even some opportunities. It’s a time to focus on what’s practical and necessary, both near and longer term.
Taxes November 21, 2025
IRS Issues Guidance for Workers Who Received Tips or Overtime in Tax Year 2025
The Treasury Department and the IRS issued guidance on Nov. 21 for employees who are eligible to claim the deduction for tips and for overtime compensation under the One Big Beautiful Bill Act for the 2025 tax year.
Taxes November 6, 2025
IRS Grants Penalty Relief for Reporting Tips and Overtime Under OBBBA
The Treasury Department and the IRS issued guidance on Nov. 5 providing penalty relief to employers and other payors for tax year 2025 on the new information reporting rules for cash tips and qualified overtime compensation in the tax-and-spending law.
Taxes September 23, 2025
New House Bill Would Expand No Tax on Overtime to All Union Workers
Rep. Nicole Malliotakis (R-NY) announced Sept. 19 that she has introduced bipartisan legislation to ensure that all union workers benefit from the “no tax on overtime” provision that was included in President Donald Trump’s One Big Beautiful Bill Act.
Taxes September 15, 2025
IRS Provides Glimpse of Schedule 1-A Form for New OBBBA Tax Deductions
Schedule 1-A, "Additional Deductions," for Form 1040 will be used during the 2026 tax season to calculate new deductions for tips, overtime, car loan interest, and senior citizens.
IRS August 26, 2025
IRS Unveils 2026 Draft W-2 Form with Trump Tax Law Provisions
The IRS released a draft W-2 form for 2026 on Aug. 15 that takes into account tax provisions in the One Big Beautiful Bill Act for deductions related to tip income and overtime pay.
Taxes August 5, 2025
Workers Cautiously Embrace No Tax on Tips and Overtime
Workers are cautiously optimistic about the tax code changes in the One Big Beautiful Bill Act, which allow some to deduct tips and overtime pay from their income up to certain limits.