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County staff outline federal change on overtime and tips tax treatment; payroll reimbursement process still unclear
Summary
Custer County staff discussed an emergent federal tax change affecting overtime, tips and Social Security with guidance not yet finalized. County administrators said employers may have to track overtime/tip taxation by employee and handle reimbursements when federal rules are implemented retroactively to January of the tax year.
County finance and payroll staff briefed commissioners July 16 on a federal change under discussion that affects taxation of overtime, tipped income and Social Security with implementation details still unsettled.
What staff described County administrators said they have seen preliminary guidance indicating the change will treat overtime and tips differently for taxation, and that Social Security treatment for some recipients may be adjusted. Staff said the federal change (described…
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