The One Big Beautiful Bill Act: Key Tax Law Changes for Businesses and Individuals
President Trump officially signed the One Big Beautiful Bill Act( OBBBA) into law on July 4, 2025, extending several tax provisions in the Tax Cuts and Jobs Act( TCJA) and enacting new legislation, as promised. While the OBBBA makes permanent numerous tax breaks, it also eliminates several others.
Explore some of the key changes affecting business and individual taxpayers as you plan for the 2025 tax year.
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