On July 4, 2025, the President signed into law H.R. 1, commonly referred to as the One Big Beautiful Bill Act or OBBBA (H.R. 1), extending many of the expiring provisions from the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. The final law also addresses other tax priorities of the administration, including providing deductions to eliminate income taxes on certain tips and overtime pay. H.R. 1 also revamps some of the TCJA’s provisions on the taxation of corporations’ foreign
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Excerpt: H.R. 1 — Tax Provision Summary & Insights
Jul 22, 2025 · 2 MB Download
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