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Federal Taxes Reporting Requirements Tax Credits

McDermott Will & Schulte

IRS roundup: July 12 – July 29, 2025

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for July 12, 2025 – July 29, 2025. July 15, 2025: The IRS issued Revenue Ruling 2025-14, providing prescribed rates for...more

FordHarrison

How the One Big Beautiful Bill Act May Impact Employers

FordHarrison on

On July 4, 2025, President Trump signed into law a bill entitled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14,” generally referred to as the One Big Beautiful Bill Act (the OBBBA). The OBBBA...more

McAfee & Taft

New law offers "big beautiful" federal tax deductions on tips and overtime

McAfee & Taft on

On July 4, 2025, President Trump signed the “One Big Beautiful Bill” (OBBB) into law, which contains two key provisions that are likely to be very popular with employees. Those provisions provide federal income tax deductions...more

Jackson Lewis P.C.

Federal OBBBA Round-Up: What Employers Need to Know Now

Jackson Lewis P.C. on

President Donald Trump signed H.R. 1, “One Big Beautiful Bill Act” (OBBBA), on July 4. The OBBBA affects a wide range of workplace issues, including immigration, benefits, and employment tax liabilities. Below is only a brief...more

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