factually
Index/Topics/Fair Labor Standards Act (FLSA)

Fair Labor Standards Act (FLSA)

The Fair Labor Standards Act defines qualified overtime compensation as the amount that exceeds the regular rate.

Fact-Checks

2 results
Feb 1, 2026

What payroll system changes do employers need to implement to populate W‑2 Box 12 code TT for 2026?

Employers must update payroll systems to separately track and report "qualified overtime compensation" so it can be output to W‑2 Box 12 using new code TT beginning with tax year 2026 (W‑2s issued Jan...

Jan 9, 2026

Do employers have standardized Codes for overtime in box 14 across states?

Employers historically have no single, federally mandated, standardized set of short codes for overtime reporting in Box 14 of Form W‑2; Box 14 is a catch‑all “Other” field where employers may label e...