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How Oracle is going to adjust the W2 to be in line with the One Big Beautiful Bill.

in Payroll and OTL - EBS (MOSC) 1 commentAnswered

Hi,

Our payroll team has questions on how Oracle is going to adjust the W2 to be in line with the One Big Beautiful Bill.

Temporary Tax Deductions for Employees: 

The One Big Beautiful Bill establishes a temporary individual deduction for overtime pay (up to $12,500) for tax years 2025 through 2028. These are deductions for employees on their personal tax returns (Form 1040), not a change to withholding or employer payroll taxes. Employers must update W-2s to separately report qualified tips and overtime pay to support employees' deduction claims. 

How is Oracle going to adjust the W2 file to report tips? Is it going to be reported in Box 14?

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