Workers who earn overtime may deduct up to $12,500 of qualified overtime income per year under the OBBBA, with the phaseout beginning around $150,000 for single filers and $300,000 for joint filers.
reported by 4 outlets · Reported fact · first recorded Jul 8, 1:30 AM
How each outlet reported it
finance.yahoo.comUnrated · Jul 8, 12:45 AM
The 'no tax on overtime' deduction phases out for taxpayers with modified adjusted gross income over $150,000 ($300,000 for joint filers)
Details: $150,000 single; $300,000 joint
cpapracticeadvisor.comUnrated · Jul 8, 12:45 AM
OBBBA introduces a maximum 'no tax on overtime' deduction of $12,500 for eligible workers (2025-2028)
Details: $12,500; 2025-2028
finance.yahoo.comUnrated · Jul 8, 12:45 AM
The maximum 'no tax on overtime' deduction is $12,500 or $25,000 for joint filers
Details: $12,500 single; $25,000 joint
kiplinger.comUnrated · Jul 8, 12:45 AM
Workers who earn overtime may deduct up to $12,500 of qualified overtime income per year
Details: $12,500; overtime; above-the-line deduction
kiplinger.comUnrated · Jul 8, 12:45 AM
The overtime deduction phaseout begins around $150,000 for single filers and $300,000 for joint filers
Details: $150,000 single; $300,000 joint
pasadenastarnews.comUnrated · Jul 8, 12:45 AM
The qualified overtime pay deduction is capped at $25,000 for married couples and $12,500 for singles.
Details: $25,000; $12,500; half-time portion