Payroll Now Overtime Premium Information for the One Big Beautiful Bill Changes
With the release of 25.48.0.0, the option to configure the Overtime Premium in Payroll Now per the One Big Beautiful Bill changes has been made available. It is important to note that the process on this release reports the premium in box 12 code TT of the 2025 W2. At the time of the release, the IRS had not made a final call as to the reporting process for this. Important: this will be the process for the 2026 tax year.
An additional release of 25.49.0.1 was made available very recently and per the new IRS guidelines for OB3, to now report those 2025 premium amounts in box 14 of the 2025 W2 as box 12 code TT is not recognized by the Social Security Administration. Please note, this is an option to report in box 14 and not required if you provide the information to the employee in a different format.
