Posts tagged No Tax on Overtime
GOP senators unveil legislation to cut taxes on overtime pay in line with Trump’s campaign promise
May 7, 2025 // The Overtime Wages Tax Relief Act, introduced by Sens. Roger Marshall (R-Kan.) and Tommy Tuberville (R-Ala.), would allow individuals to deduct up to $10,000 in overtime pay from their tax bill. Married couples would be able to deduct up to $20,000. The legislation includes phase-out eligibility based on income. So, once individual adjusted gross income reaches $100,000, or $200,000 for married couples, the deduction is reduced by $50 for every $1,000 in earnings above the threshold.