No Tax on Tips and Overtime: What the IRS's New 2026 Payroll Rules Mean

Steve Perry

Published on: 02/09/2026

New 2026 W-2 codes TP and TT replace the reporting relief employers had for tips and overtime deductions in 2025. Here is what payroll must confirm now to avoid IRS penalties.

no tax on tipsno tax on overtimeIRS Form W-2 2026Box 12 code TPBox 12 code TTqualified tips deductionqualified overtime deductionIRC Section 224IRC Section 225payroll compliance 2026IRS Notice 2025-62One Big Beautiful Bill Actinformation return penaltiesTreasury Tipped Occupation CodeSchedule 1-A

OBBBA One Year Later: What Changed for Small Business Owners in 2026

Steve Perry

Published on: 01/09/2026

This article explains how the OBBBA made key small business deductions permanent, while new IRS reporting thresholds mean planning and record keeping matter all year, not just at filing.

One Big Beautiful Bill ActOBBBA small business taxsmall business tax 2026IRS noticesIRS enforcementtax planning 2026Section 179 2026bonus depreciation 2026qualified business income deduction1099-K threshold1099-NEC threshold 2026IRS resolution expertEnrolled Agent AtlantaSteve Perry EA