In the News | Thomson Reuters
Retroactive tax law for tips and overtime demands immediate action, payroll expert cautions
July 22, 2025 · Authored by Gillian Florentine
The “One Big Beautiful Bill Act” aims to boost employee take-home pay with new deductions — up to $25,000 for tips and $12,500 for overtime premiums. But with no formal IRS guidance yet, the changes are creating complex challenges for employers. Gillian Florentine spoke with Thomson Reuters about the increased burden on payroll systems, retroactive adjustments and the need to distinguish between qualified and non-qualified earnings.
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