It depends on your job and employer. In many cases, employees who work on a holiday receive time-and-a-half and not double time. Only the amount of premium pay is subject to a deduction under the new law, and the deduction allowable for overtime is limited to up to $12,500 per taxpayer with phaseout for MAGI over $150,000 (over $300,000 for Married Filing Jointly filers)
See this TurboTax tips article for more information about the OBBBA changes.
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