How The New Overtime Deduction Works And Who Is Eligible To Claim It

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

IRS details how to take advantage of new deductions in the One Big Beautiful Bill

The IRS has unveiled new guidelines to help taxpayers take full advantage of the deductions introduced in the One Big Beautiful Bill (OBBB). This legislation, also known as the Working Families Tax ...

Warning: New IRS Instructions Limit ‘No Tax On Tips’ Deduction For Gig Workers

With the tax filing season already underway, revised 1040 instructions make the tips deduction more complicated and limited for the self-employed.
DePauw

Permissible Deductions from Compensation

The University is prohibited from making improper deductions from the salaries of exempt employees and must comply with the salary basis requirements of the Fair Labor Standards Act (FLSA). Employees ...