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The introduction of new codes TT and TP for qualified overtime and tips on Form W-2, and the addition of a new Box 14b for occupation codes.
The includes new box 12 codes — notably TP for qualified tips and TT for qualified overtime compensation in draft guidance — and released a final 2026 form that incorporates changes tied to recent fed...
refers to the “premium” portion of —the extra half‑time paid for hours worked over 40 in a workweek—and employers must base that premium on the employee’s FLSA “regular rate,” which now explicitly inc...
The IRS finalized the redesigned 2026 Form W‑2 — including the new Box 12 code “TT” for total qualified overtime compensation — with the agency posting the final 2026 W‑2 on or about January 9–12, 202...
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...