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Inflation Reduction Act (IRA) Tax Credits GILTI tax

Vinson & Elkins LLP

One Big Beautiful Bill Act: Key Tax Impacts for Businesses

Vinson & Elkins LLP on

On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill Act (the “OBBBA”) into law. Congress passed the OBBBA through budget reconciliation, a special legislative process that allows Congress to advance...more

Lathrop GPM

Tax Update: One Big Beautiful Bill Act Signed Into Law – What Does It Mean for You?

Lathrop GPM on

On July 4, 2025, President Trump signed into law the massive spending and tax package known as the “One Big Beautiful Bill Act” (OBBBA). The OBBBA makes tax provisions from the 2017 Tax Cuts and Jobs Act permanent, in some...more

BakerHostetler

Analysis of the 2025 Federal Tax Changes Under the “One Big Beautiful Bill” Legislation

BakerHostetler on

The race to remake portions of the Internal Revenue Code (Code) and to prevent expiration of certain Tax Cuts and Jobs Act (TCJA) provisions reached completion with Legislation signed by President Trump on July 4, 2025....more

K&L Gates LLP

FY2025 Budget Supports Biden Administration's Focus on Fairness in the Tax Code

K&L Gates LLP on

Overview - On Monday, 11 March 2024, the Biden administration released the president’s budget request (PBR) for fiscal year 2025 (FY2025), as well as the “Greenbook” containing explanations of the various revenue proposals in...more

Fenwick & West LLP

The New Corporate AMT: Impact on International Operations

Fenwick & West LLP on

Introduction On August 16, President Biden signed into law the Inflation Reduction Act of 2022, P.L. 117-169 (IRA). The law addresses a range of issues, from climate change to energy security to prescription drug prices for...more

Jones Day

Inflation Reduction Act of 2022: Corporate Minimum Tax

Jones Day on

In Short - The Situation: On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 into law. The Act establishes a new 15% corporate minimum tax (the "CMT") on large U.S. corporations (generally...more

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