2026 W-2 tips & overtime year-end checklist

Tax year 2026 adds Box 12 codes TP (cash tips reported to the employer) and TT (qualified overtime compensation), plus Box 14b occupation codes for employees with TP. Forms W-2 and W-3 are due to the SSA on February 1, 2027. Here is a checklist for each client business.

1. Pull 2026 cash tips reported by each employee; leave out mandatory service charges.
2. Pull FLSA overtime hours and regular rates; compute the premium (half) portion for TT.
3. Assign Box 14b occupation code(s) for every employee with TP (up to two per the IRS instructions).
4. Compare totals against what the payroll provider will print.
5. Fix gaps in December instead of filing W-2c corrections later.

Doing this for real payroll? The 2026 W-2 Tips & Overtime Kit (an educational kit, not tax advice) includes a year-end checklist, a payroll-to-TP/TT workbook and a guide to the IRS tipped-occupation codes, for one business ($149) or up to 25 client businesses ($399). See the kit

Related: Box 12 codes TP and TT · Box 14b occupation codes

Sources

• IRS: 2026 General Instructions for Forms W-2 and W-3
• DOL: Overtime pay

Educational kit, not tax advice. This page summarizes the IRS 2026 General Instructions for Forms W-2 and W-3 as read on October 30, 2026. It is not tax, legal or payroll advice; confirm with your CPA, enrolled agent or payroll provider and check current IRS instructions before you file. Swift Labs is not affiliated with the IRS.