The One Big Beautiful Bill Act introduced a new deduction called No Tax on Overtime for the 2025 tax filing season.

"Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay – such as the 'half' portion of 'time-and-a-half' compensation," the IRS said. The ...

New tax deduction — on auto loans, tips and overtime pay, and for older Americans — wouldn't deliver much of a financial benefit for lower earners, experts said. These policies are part of a massive ...

The IRS has released new federal income tax brackets for 2026, the agency announced in a news release published on Thursday, Oct. 9. The updates are due to changes in inflation and a new tax law that ...

On June 22, 1987, Colorado became the first state in the nation to move from a progressive income tax code to a flat rate when then-Governor Roy Romer (D) signed House Bill 1331 into law. Now, nearly ...