Unpacking OBBA for Individual Taxpayers

The One Big Beautiful Bill is now the One Big Beautiful Act (Signed into law on July 4, 2025)! This program provides a summary of the major individual provisions of the OBBA of 2025 (H.R. 1), with a focus on the extended provisions, provisions made permanent without changes and those major changes, and new provisions for 2025 and beyond.

After attending this presentation, you will be able to...

• Identify individual provisions of the OBBA of 2025.
• Identify key compliance issues.
• Analyze tax planning implications of OBBA of 2025.

Highlights

The major topics that will be covered in this course include:

• New law provisions applicable to individuals, including deductions for: Tip income and overtime pay; Social security income; Car loan interest; AGI charitable contribution deduction; Trump account
• An overview of provisions of existing law extended or made permanent without substantial change, including casualty losses, individual tax rates, alternative minimum tax.
• Provisions of existing law extended or made permanent with substantial change, including: child tax credit, earned income credit, standard deduction, state and local tax deduction.
• Repeal existing law provisions, including electric car credit and home energy credits