To Get This New Tax Deduction, You Must Calculate Your Overtime Pay—Here's How [Yahoo! Finance]
H&R Block, Inc. (HRB)
Last h&r block, inc. earnings: 3/5 04:15 pm
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Source: Yahoo! Finance
However, workers will need to calculate their deduction for themselves this year and should keep in mind that they may only deduct their overtime pay that exceeds their regular wages, and it can only be up to half of their regular rate of pay. Ask your employer how much you earned in overtime this year. It may impact your tax bill in April. A new deduction created under the " One Big, Beautiful Bill " allows workers to subtract part of their overtime wages, up to $12,500, or $25,000 for joint filers. This new deduction will be retroactive through the 2025 tax year, allowing workers to claim it when they file their taxes during the 2026 filing season. Employers will be required to report to the IRS and the worker the amount of qualified overtime pay the worker received that year. Congress approved the deduction in July, leaving little time to make reporting changes, so employers will not be penalized this year if they do not provide their workers with the exact overtime amounts.
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News
- Secure Your Chances of Getting the New Tip Tax Break With This Expert's Advice [Yahoo! Finance]Yahoo! Finance
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- H&R Block: High Yield, High Uncertainty In An AI-Driven Future [Seeking Alpha]Seeking Alpha
- H&R Block (HRB): Evaluating the Valuation After a Recent Drop in Share Price [Yahoo! Finance]Yahoo! Finance
HRB
Earnings
- 11/6/25 - Beat
HRB
Sec Filings
- 11/20/25 - Form 4
- 11/19/25 - Form 144
- 11/14/25 - Form 4
- HRB's page on the SEC website