When is the U.S. tax filing deadline this season?

The standard U.S. tax filing deadline for individual returns is April 15. Some taxpayers may get extra time due to state-specific holidays or disaster relief. Filing early helps if you need to reconcile new deductions tied to overtime premiums and reported tips, since documentation reviews may add time.

Who can claim the “no tax on overtime” deduction?

U.S. workers who receive overtime premiums and can document the premium portion may qualify. Eligibility depends on accurate employer records and pay stubs. Due to IRS transitional relief, many filers must use pay statements to calculate amounts. Keep clear, dated records to support the deduction at filing.

How do reported tips factor into the new rules?

Properly reported tips, documented through payroll and employer statements, may be deductible, lowering adjusted gross income. Workers should retain pay stubs and any employer-provided tip summaries. Accurate, timely reporting is key. Good records support the claim and reduce the risk of amendments after the tax filing deadline.

What is IRS transitional relief and why does it matter?

IRS transitional relief allows taxpayers to claim deductions using alternative records, like detailed pay stubs, when standard forms do not yet break out eligible amounts. It helps workers benefit now, even as payroll systems catch up. The approach adds admin steps but supports accurate claims for overtime and tips.

Law and Government

February 22: Tax Refunds Rise on New Overtime, Tips Deductions

ByDanny Kontos February 22, 2026February 22, 2026

With the April 15 tax filing deadline approaching, new U.S. deductions for overtime premiums and properly reported tips could boost 2026 refunds and near‑term spending. IRS transitional relief means many filers will use pay stubs to calculate eligible amounts, adding some complexity. For investors in Germany, stronger U.S. consumption can support large caps and global risk appetite. We explain what changed, what IRS transitional relief means, and how it could shape the S&P 500 backdrop into the tax filing deadline while keeping a focus on practical steps and risks.