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Qualified overtime compensation

1 rule0 of 2 subsections

(1) In general

(1)In general#

For purposes of this section, the term “qualified overtime compensation” means overtime compensation paid to an individual required under section 7 of the Fair Labor Standards Act of 1938 that is in excess of the regular rate (as used in such section) at which such individual is employed.

(2)Exclusions#

Such term shall not include any qualified tip (as defined in section 224(d)).

in view

Whole section

Encodings · 1

qualified_overtime_compensation26 USC § 225 (c) · derived

26 USC 225(a), 26 USC 225(c)

name: qualified_overtime_compensation
kind: derived
entity: TaxUnit
dtype: Money
period: Year
unit: USD
source: 26 USC 225(a), 26 USC 225(c)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: definition
        source:
          corpus_citation_path: us/statute/26/225
          excerpt: qualified overtime deduction amount for the taxable year
          text: >-
            qualified overtime compensation means overtime compensation paid to
            an individual required under section 7 of the Fair Labor Standards
            Act of 1938 that is in excess of the regular rate (as used in such
            section) at which such individual is employed.
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us/statute/26/225
          excerpt: qualified overtime deduction amount for the taxable year
          text: >-
            Such term shall not include any qualified tip (as defined in section
            224(d)).
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/225
          excerpt: qualified overtime deduction amount for the taxable year
          text: >-
            received during the taxable year and included on statements
            furnished to the individual pursuant to section 6041(d)(4) or
            6051(a)(19).
versions:
  - effective_from: '2025-01-01'
    formula: |-
      max(
          0,
          overtime_compensation_required_under_flsa_section_7_in_excess_of_regular_rate_included_on_statements
          - qualified_tips_included_in_overtime_compensation
      )

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▸rulespec code

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statutes/26/225.yaml

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Rules

qualified_overtime_deduction_cap_other

Parameter

source: 26 USC 225(b)(1)

- name: qualified_overtime_deduction_cap_other
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 225(b)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/225
            text: >-
              The amount allowed as a deduction under this section for any taxable year shall not
              exceed $12,500 ($25,000 in the case of a joint return).
  versions:
    - effective_from: '2025-01-01'
      formula: '12500'

qualified_overtime_deduction_cap_joint

Parameter

source: 26 USC 225(b)(1)

- name: qualified_overtime_deduction_cap_joint
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 225(b)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/225
            text: >-
              The amount allowed as a deduction under this section for any taxable year shall not
              exceed $12,500 ($25,000 in the case of a joint return).
  versions:
    - effective_from: '2025-01-01'
      formula: '25000'

qualified_overtime_phaseout_reduction

Parameter

source: 26 USC 225(b)(2)(A)

- name: qualified_overtime_phaseout_reduction
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 225(b)(2)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/225
            text: shall be reduced (but not below zero) by $100 for each $1,000
  versions:
    - effective_from: '2025-01-01'
      formula: '100'

qualified_overtime_phaseout_increment

Parameter

source: 26 USC 225(b)(2)(A)

- name: qualified_overtime_phaseout_increment
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 225(b)(2)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/225
            text: >-
              by $100 for each $1,000 by which the taxpayer’s modified adjusted gross income exceeds
              $150,000 ($300,000 in the case of a joint return).
  versions:
    - effective_from: '2025-01-01'
      formula: '1000'

qualified_overtime_phaseout_threshold_other

Parameter

source: 26 USC 225(b)(2)(A)

- name: qualified_overtime_phaseout_threshold_other
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 225(b)(2)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/225
            text: >-
              modified adjusted gross income exceeds $150,000 ($300,000 in the case of a joint
              return).
  versions:
    - effective_from: '2025-01-01'
      formula: '150000'

qualified_overtime_phaseout_threshold_joint

Parameter

source: 26 USC 225(b)(2)(A)

- name: qualified_overtime_phaseout_threshold_joint
  kind: parameter
  dtype: Money
  unit: USD
  source: 26 USC 225(b)(2)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/225
            text: >-
              modified adjusted gross income exceeds $150,000 ($300,000 in the case of a joint
              return).
  versions:
    - effective_from: '2025-01-01'
      formula: '300000'