IRS Offers More Info On How The New Overtime Deduction Works

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

Charitable Donation Tax Deduction: What Qualified and How To Maximize Your Tax Benefits

The charitable donation tax deduction lets you write off qualified gifts to nonprofit organizations, but there are rules to ...

How seniors can boost tax refunds with new deduction on 2025 returns

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced ...
Forbes

A First Look At The New Tax Form For Claiming Deductions For Tips, Overtime, Car Interest And Seniors

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the ...

No Tax on Overtime explained (‘One Big Beautiful Bill’ tax changes)

The overtime deduction is temporary – it only applies for the 2025 to 2028 tax years.
Accounting Today

IRS offers guidance on overtime deduction ahead of tax season

The Internal Revenue Service and the Treasury released a set of questions and answers on the new deduction for overtime pay ...

Tax season begins today. 8 things to know before you file

The 2026 tax filing season begins today, Monday, Jan. 26. The deadline to file your taxes in 2026 is Wednesday, April 15.

No tax on tips? How the new tip deduction actually works

Will you stop paying taxes on your tip income? New tax rules may allow some workers to reduce their tax liability on ...

Larger tax refunds predicted for millions as new IRS rules come into effect

The new tax bill also temporarily raises the cap on the state and local tax (SALT) deduction to $40,000, up from $10,000. The ...