New 2026 W-2 Form

The IRS recently released the new 2026 W-2 form.

Just as I predicted in the “OBBBA Tax Breakdown“, the IRS included new boxes for line 12 of the W-2:

TA – Employer contributions to your Trump account.
TP – Total amount of qualified tips. Use this amount in determining the
deduction for qualified tips on Sch. 1-A (Form 1040).
TT – Total amount of qualified overtime compensation. Use this amount
in determining the deduction for qualified overtime compensation on
Sch. 1-A (Form 1040).

So, for the purposes of calculating overtime or qualified tips deductions, these figures can easily be referenced. However, for 2025, the IRS is still coming out with the updated guidance, and no changes will be applied to the 2025 Form W-2.

This also means that the IRS is coming out with the new Schedule 1-A. This will include the tips and overtime deduction, and likely the new senior & car loan interest deductions.

Enjoy the Labor weekend all!