It creates no tax issues whatsoever. The company only deducts employee compensation actually paid. You include in your income only pay you actually receive. Until the company pays you for the OT, it is not a taxable event. The IRS won’t care that you were not paid OT, whether you were entitled to it or not. The IRS will care that the proper federal tax withholding and reporting for the OT is done once the company actually pays it.

