In an effort to help our clients comply with new legislation regarding overtime in 2025, we want to make you aware of an informational item that will appear on 2025 Forms W-2. For employees who earned overtime in 2025, Box 14 of the W-2 will include an estimated...
The Department of the Treasury and the Internal Revenue Service issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025. Notice 2025-69 clarifies for workers how to determine the amount of their deduction...
Understanding the New Federal Tax Law on Tips and Overtime: What Employers Need to Know and How to Prepare The federal income tax exemption for tips and overtime pay—part of the “One Big Beautiful Bill Act” passed on July 3, 2025—is not just a policy change; it’s a...