The One Big Beautiful Bill Act (the “Bill”), which was passed by the House of Representatives on May 22, 2025, contains a provision that, if enacted in its current form, would have a dramatic impact on the U.S. tax treatment...more
On May 22, 2025, the House of Representatives passed the “One Big Beautiful Bill Act” (the “Bill”) by a one vote margin. Set forth below is a summary description of some of the provisions of the Bill....more
5/23/2025
/ Business Taxes ,
Endowment Funds ,
Estate Tax ,
Federal Budget ,
GILTI tax ,
One Big Beautiful Bill Act ,
Proposed Legislation ,
SALT ,
State Taxes ,
Tax Deductions ,
Tax Legislation ,
Tax Rates ,
Tax Reform ,
Trump Administration
On September 13, 2021, the House Ways and Means Committee released draft legislation advancing a series of tax proposals (the “Ways and Means Tax Proposals”). This episode of Kelley Drye's Legal Download discusses some of...more