Prison staffing issues led to a huge increase in overtime costs, reaching $445 million.
Overtime Costs Soar in New York State Prisons Amid Staffing Crisis ALBANY — New York’s state prisons are facing a significant staffing shortage, leading to eye-popping overtime expenses that have spiked to $445 million, before even considering the recent dismissals of thousands of amendment officers following an illegal strike earlier this year. The Department of […]
IRS Provides Information on New Deductions for Seniors, Tips, Overtime, and Car Interest
Recently, the IRS released guidance regarding the new provisions included in the One Big Beautiful Bill Act (OBBBA). If you’re feeling a bit lost about this legislation, you’re not alone. Before President Donald Trump enacted the bill on July 4, 2025, there was already a mix of misinformation and confusion surrounding it. The Forbes team […]
Overtime pay is now tax-deductible: Information on Trump’s new tax relief
Changes to Overtime Revenue for American Workers Thanks to President Donald Trump’s “big beautiful bill,” millions of Americans are finding ways to keep more of their earnings from overtime work. The legislation includes provisions allowing for certain deductions on overtime income. Essentially, this means that workers can deduct the amount they earn from overtime from […]
New federal tax relief for tips and overtime is now active, affecting millions.
Changes in Overtime Pay and Tips for Workers COLOMBUS, Ohio – Many workers across the U.S. are reaping the rewards of a new budget bill under President Donald Trump, which is currently in effect, impacting taxes on tips and overtime regulations. Kelley Metzger, a server with a decade of experience at the Nutcracker family restaurant […]
Essential information and uncertainties regarding US tax deductions for tips and overtime pay
Millions of US workers might see changes to their overtime salaries due to potential federal tax deductions in the upcoming tax year of 2025. However, which workers will actually benefit from this new deduction is still a point the government needs to clarify after President Trump’s recent spending and policy package gains approval from Congress. […]
Understanding US tax deductions for tips and overtime pay: what is known and what remains unclear
Changes to Tax Regulations for Workers Millions of workers in the US might soon see changes regarding federal tax deductions on tips and overtime pay when filing for the 2025 tax year. However, a clear outline of which workers will be eligible for these deductions needs to be finalized by the government following President Trump’s […]
When will the ‘Big Beautiful Bill’ take effect? Check the timeline for no tax on overtime and more.
Overview of President Trump’s Recent Legislation President Donald Trump’s “One Big, Beautiful Bill” is expected to introduce significant reductions in Medicaid funding while also tightening work requirements for those receiving benefits from the Supplemental Nutrition Assistance Program. Additionally, there will be adjustments to various taxpayer deductions. Date of Signing The bill was signed by Trump […]
New tax law lowers federal income taxes on tips and overtime.
New Tax Law Changes for Federal Income Taxes With the introduction of President Trump’s new tax law, there will be reductions in federal income taxes related to tips and overtime. This will provide qualified individuals the ability to deduct certain overtime hours. A business professor from Drake University, Matthew Mitchell, provided some insight into the […]
Do you qualify for Trump’s tax relief on tips, overtime, and Social Security?
Tax Relief Under Trump: What You Need to Know There’s some buzz about President Donald Trump’s tax relief program, and it ties back to the promises he made during his campaign. While there’s a lot of interest, not everyone will qualify, and some parts of the program are only temporary. The provisions made for different […]
Are you qualified for Trump’s tax assistance regarding tips, overtime, and Social Security?
Do You Qualify for Trump Tips, Overtime, and Social Security Tax Cuts? President Donald Trump’s tax relief plan, which he promised during his campaign, offers various benefits, although many of these provisions are temporary and not universally applicable. This is particularly relevant for what are termed “conventional and regular” occupations. For instance, overtime costs include […]