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Limited Impact of ’No Tax on Overtime’ Rule for U.S. Workers
Limited Impact of ’No Tax on Overtime’ Rule for U.S. Workers
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BTCCSquare news:
The newly enacted 'no tax on overtime' provision under the One Big Beautiful Bill Act will benefit fewer than 9% of U.S. taxpayers, according to the Tax Policy Center. Eligible filers—primarily those working over 40 hours weekly—stand to save an average of $1,440 annually by excluding overtime earnings above their standard pay rate from federal income tax. Payroll taxes remain unaffected.
Phase-outs begin at $150,000 for single filers and $300,000 for joint filers, with complete exclusion for incomes exceeding $400,000. The provision’s narrow applicability and complex calculations contrast with its political fanfare, offering modest relief to a fraction of the workforce.
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