Congress passed President Donald Trump’s tax megabill Thursday. The “big beautiful” bill extends sweeping tax cuts, while adding a senior "bonus" to offset Social Security taxes and a bigger state and...

Under the new law, workers can deduct up to $12,500 in overtime pay and $25,000 in reported tips from their taxable income on federal tax returns.

The tax break sounds universal, but it’s slanted toward middle- and higher-income earners — workers who owe enough federal income tax for the deductions to make a real difference.