On Friday, July 4, 2025, President Trump signed into law the Reconciliation Bill commonly known as the One Big Beautiful Bill Act (OBBBA). Broadly speaking, the OBBBA extends and makes permanent many provisions enacted by the...more
Background - On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA,” H.R.1). Among other things, the OBBBA permanently reinstates 100% bonus depreciation under Section 168(k) for qualified...more
President Trump signed the One Big Beautiful Bill Act (OBBB Act) into law on Friday July 4, 2025. Among other changes to existing federal tax laws (many of which are discussed by other alerts from this firm), the OBBB Act...more