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The One Big Beautiful Bill Act (OBBBA) added an above-the-line deduction for qualified overtime compensation and a separate deduction for tipped income that take effect for 2025 returns filed in 2026.
for qualified overtime and certain tipped income for tax years 2025–2028, leaving whether to mirror those federal breaks on their own income-tax returns . A handful of states have moved quickly — has ...
lets workers deduct “qualified overtime compensation,” defined largely as the FLSA-required overtime premium — the portion of overtime pay that exceeds an employee’s regular rate (for many employees, ...
The (OBBBA) produces several concrete tax benefits that many taxpayers will see reflected in 2026 returns and withholding — ranging from expanded credits and deductions (notably a temporary $6,000 sen...