Tax provisions in the One Big Beautiful Bill Act

The One Big Beautiful Bill Act brings major changes to tax law, including TCJA extensions, new deductions, and clean energy rollbacks. Get the full breakdown and see how it may impact your clients.

The One Big Beautiful Bill Act—signed into law by President Trump—delivers sweeping changes to individual and business tax policy. From permanent extensions of TCJA provisions and expanded deductions for tips and overtime, to major changes in clean energy incentives and corporate taxation, the new law impacts nearly every taxpayer. Read the full article

Topics:

You May be Interested in

  • TXCPA Urges Texas Delegation to Support Fiscal State of the Nation Act
    TXCPA is encouraging Texas lawmakers to support H.R. 7026, the Fiscal State of the Nation Act. This bill would give Congress clearer, more consistent financial insights and help strengthen long‑term fiscal decision‑making.
  • Navigating Last-Minute Filing Season Details
    The IRS and states are issuing last-minute rules that affect this tax season - mandatory electronic payments, new CP53E refund notices, expanding state e-payment requirements, and updated USPS postmark rules. Practitioners need to stay alert.
  • The IRS May Owe Your Clients Money from the COVID Period
    Recent court decisions have opened a largely overlooked opportunity for significant tax refunds based on mandatory disaster relief under IRC Section 7508A during the federally declared COVID-19 disaster period. As a result, interest and penalties assessed during this period may be invalid and refundable, and some taxpayers who received refunds may also be entitled to unpaid overpayment interest. While uncertainty remains and the IRS may resist such claims, timely protective refund filings are critical to preserve clients rights as the statute of limitations continues to run.

Support the Next Generation

Donate to TXCPA scholarships and help aspiring accountants achieve their goals.