On July 4, 2025, President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill or OBBBA, which includes several changes to the federal income tax treatment of trade or business activities....more
The United States recently passed tax legislation called the One Big Beautiful Bill Act (OBBBA), a follow-up to the 2017 Trump tax cuts. While the bill is American, many Canadian families with cross-border ties, including...more
The “One Big Beautiful Bill Act” (the “BBB”) was signed into law by President Trump on July 4, 2025. The BBB generally extends certain tax provisions of the 2017 Tax Cuts and Jobs Act (“TCJA”) that would have otherwise...more
On July 4, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA). This alert summarizes the key changes under the OBBBA relevant to private equity sponsors and their investors, as well as some of the...more
This bulletin follows our previous update on evolving U.S. tax reform, which highlighted the competing House and Senate proposals, particularly the introduction and scope of proposed Section 899 targeting "unfair foreign...more
On July 4, 2025, President Donald Trump signed H.R. 1 into law, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Act). As discussed in our prior alert released following the passage by the House of...more
On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, following the approval of Congress. OBBBA contains the following compelling updates from a real estate investment trust (REIT)...more
In this fourth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), Steve Nofziger and I discuss a provision of the Act that impacts pass-through business entities and their owners, Code Section...more
Recently, President Donald Trump signed the bill known as the One Big Beautiful Bill Act (OBBBA) into law. OBBBA permanently extends many provisions of the Internal Revenue Code (Code) introduced by the Tax Cuts and Jobs Act...more
The Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, made some of the most significant changes to the tax law since the Tax Reform Act of 1986. Absent further legislation, many of the provisions...more
President Trump signed into law major tax legislation on July 4, 2025. While the bill itself is almost a thousand pages long, below is a bite-size summary of what you need to know about key provisions: Individual Income and...more