No Tax On Tips & No Tax On Overtime - working with the new Schedule 1-A

This course walks the user through a detailed explanation of 2 of the most talked about elements of the recently passed OBBA (One Big Beautiful Bill), No Tax On Tips and No Tax On Overtime. Filing 2025 tax returns in calendar year 2026 will be the first time these items will receive this newly tax free treatment. We will walk through several of the most common taxpayer scenarios when work situations would qualify for non taxable treatment, and will review the flow of tip and overtime income from various sources on a 1040 tax return as they end up on the new Schedule 1A to get excluded. We will cover fact and misconceptions so you can respond to taxpayer questions with confidence and prepare their returns properly to maximize their refunds while operating within the rules and guidelines. This training webinar will considered beginner in nature and will be be worth 1 Continuing Education credit in the Tax Law Update category for those attendees that have purchased general continuing education access.