Allows a tax deduction for certain overtime compensation under the Internal Revenue Code.

The No Tax on Overtime for All Workers Act amends the Internal Revenue Code to allow a deduction for certain overtime compensation. This applies to compensation paid for work exceeding a standard number of hours, typically 40 hours per week, or to compensation exceeding the regular rate as defined by the Fair Labor Standards Act. The amendment takes effect for taxable years beginning after December 31, 2024.

Allows a tax deduction for certain overtime compensation under the Internal Revenue Code.

The No Tax on Overtime for All Workers Act amends the Internal Revenue Code to allow a deduction for certain overtime compensation. This applies to compensation paid for work exceeding a standard number of hours, typically 40 hours per week, or to compensation exceeding the regular rate as defined by the Fair Labor Standards Act. The amendment takes effect for taxable years beginning after December 31, 2024.