OBBBA Tax Breaks Implementation

First-year results show 29M overtime claims, 7.5M tip deductions, 35M seniors, 40M CTC families, $82B total relief. Complex rules (overtime caps, tip occupation list, auto-loan interest) are being applied. Senate budget resolution stalled, delaying Reconciliation 3.0. IRS updated overtime deduction FAQs with stricter FLSA and W-2 Code TT rules. Tip deduction clarified with phase-out and Schedule 1-A. Senior deduction $6k additional for 65+ with phaseout. SALT cap $40,400. EITC max $8,231. Adoption credit $17,670 max. New above-the-line charitable deduction for standard filers.