Tax Team INC

01/08/2026

The IRS is Eliminating Taxes on OVERTIME!

As of 2025, the IRS rolled out one of the biggest middle-class tax relief moves in ages: No federal income tax on qualified overtime pay (via a new deduction).

What it really means: That extra “half” from time-and-a-half overtime? You can deduct it from your taxable income.

Key details that matter:
• Up to $12,500 deductible per year ($25,000 if married filing jointly)
• Starts phasing out at $150k income (single) or $300k (joint)
• Works for W-2 employees, 1099 contractors, and other qualifying setups
• Runs through 2028 — so you’ve got this relief for the 2025-2028 tax years

Hard work via overtime was always meant to pay off extra. For the next few years, Uncle Sam is finally making it feel that way again.

Who’s putting in extra hours & cashing in?

11/10/2025

12/27/2024

New date is January 13th 2025

04/16/2024

22.5K likes, 1623 comments. “Just a friendly PSA why you might not have gotten a bigger refund.”

04/14/2024

File your taxes by April 15 even if you cannot pay what you owe on April 15

According to the IRS, you should still file your taxes by the 15th and pay what you can at that time. When you don’t file on time or don’t pay anything towards what you owe, the interest and penalties can add up quickly.

The IRS Failure to File Penalty is 5% of the unpaid taxes for each month or part of a month that your tax return is late. The penalty will not exceed 25% of your unpaid taxes, but it will be applied to your balance every month, which can add up to a lot of money. Bottom line? It is never advantageous to not file your taxes by the deadline.

03/29/2024

Congratulations Standridge Motorsports

01/31/2024

Most folks have their tax payments automatically deducted from their paychecks by their employers, but sometimes, a tax bill shows up when they file their return anyway. Here are a few possible reasons why that can happen and what you can do to avoid it.