The following FAQ’s apply to original Overtime Exemption Act 2023-421 which has been amended by Act 2024-437. The original overtime exemption terminates September 30, 2024, as amended by Act 2024-437. For overtime exemption reporting, guidance, and FAQs effective for the tax period beginning on or after October 1, 2024 and ending on June 30, 2025 […]| Alabama Department of Revenue
April 2022 – In 2005, in the implementation of the interprofessional agreement, the government reduced the cost of shift work and overtime. For employees, it did so by means of a tax reduction. For employers, it has provided for an exemption from the obligation to pay the withholding tax to the Trea| Brussels accountant | English speaking bookkeepers in Belgium | Fidelium
Former President Donald Trump pledged this week to eliminate income taxes on overtime pay, which would require congressional approval.| www.cbsnews.com
Exempting overtime would unnecessarily complicate the tax code, increase compliance and administrative costs, and reduce neutrality by favoring certain work arrangements over others.| Tax Foundation
Oct 25, 2024| Committee for a Responsible Federal Budget
On April 26, 2024, the U.S. Department of Labor (Department) published a final rule, Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees, to update and revise the regulations issued under section 13(a)(1) of the Fair Labor Standards Act implementing the exemption from minimum wage and overtime pay requirements for executive, administrative, and professional employees. Revisions included increases to the standard salary leve...| DOL
The Fair Labor Standards Act (FLSA) establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting most full-time and part-time workers in the private sector and in federal, state, and local governments.| DOL
