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Tax Credits Tax Reform Tax Legislation

McCarter & English, LLP

What OBBBA Means for Individual Taxpayers: Key Takeaways

On July 4, 2025, President Trump signed into law the legislation commonly referred to as the One Big Beautiful Bill or OBBBA, which includes many tax law changes impacting individuals. The changes cover a broad range of...more

McCarter & English, LLP

What OBBBA Means for Businesses: Key Takeaways

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

Sullivan & Worcester

The O3BA -- Mixed Incentives for Charities and Their Donors

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The One Big Beautiful Bill Act (the “O3BA”), signed into law on July 4, 2025, affects charitable donors and the organizations they support. While most relevant provisions apply for tax years beginning on or after January 1,...more

ArentFox Schiff

A Hard Day’s Night for Renewable Energy Incentives

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On July 4, President Donald Trump signed into law P.L. 119-21, the “One Big Beautiful Bill Act” (OBBBA), which, among other notable changes to the US tax system, rolls back several renewable energy incentives enacted under...more

Paul Hastings LLP

One Big Beautiful Bill Act — A Private Equity Perspective

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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

BakerHostetler

Analysis of Opportunity Zone and Related Tax Credit Changes Under the 2025 Tax Legislation

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In this alert, which is part of an eight-part series taking a deeper dive into various portions of the Legislation (International Tax; Opportunity Zone and Tax Credits; Green Energy Credits; Estate Planning and Individual Tax...more

Patterson Belknap Webb & Tyler LLP

The One Big Beautiful Bill: Top Tax Takeaways for Nonprofits

President Trump’s sweeping package of domestic legislation, H.R. 1 (originally titled the One Big Beautiful Bill Act (the “OBBB”)), became law on July 4, 2025. In addition to dramatically reshaping the landscape for...more

Herbert Smith Freehills Kramer

Tax Provisions in the One Big Beautiful Bill Act

On July 4, President Trump signed into law the One Big Beautiful Bill Act (the Act). While the Act covers a wide swath of territory, the core of the Act is its tax provisions. The Act (i) makes permanent many of the tax...more

Blank Rome LLP

One Big Beautiful Bill Act: Key Business, International, and Employment Tax Provisions

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The federal government enacted the One Big Beautiful Bill Act (the “Act”) on July 4, 2025. The Act extends and makes permanent certain tax provisions introduced in the Tax Cuts and Jobs Act (the “TCJA”) that were scheduled to...more

Proskauer - Tax Talks

President Trump Signs One Big Beautiful Bill Act into Law

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On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (the “Act”) into law. The Act is similar to the Senate Finance Committee’s draft legislative text (the “SFC Bill”) (released on June 16, 2025), with...more

Husch Blackwell LLP

Understanding the OBBBA’s FEOC Framework

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The One Big Beautiful Bill Act (OBBBA), signed into law by President Donald Trump on July 4, 2025, provides for enhanced restrictions on entities claiming many of the renewable energy credits established under the Inflation...more

Cooley LLP

Key International Tax Provisions Under the One Big Beautiful Bill Act

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On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law. It is a landmark piece of legislation that introduces several important changes to the US international tax regime. This alert provides an overview...more

Cozen O'Connor

Tax Provisions Under One Big Beautiful Bill Affecting Real Estate Investment

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The enacted One Big Beautiful Bill (H.R.1, O3B) amends current tax law provisions and adds other provisions that affect real estate investments. This alert is intended to provide a summary of tax items under O3B of interest...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Act: Key Tax Provisions and Analysis

On July 4, 2025, President Donald Trump signed into law the Act (formerly referred to as the One Big Beautiful Bill Act, or OBBBA). The Act includes a suite of tax-related provisions that (1) make permanent many of the...more

BakerHostetler

[Podcast] An Analysis of the 2025 Federal Tax Changes Under the “One Big Beautiful Bill” Legislation

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The Honorable Peter Roskam, Federal Policy Team Leader, and Jeff Paravano, Tax Group Chair, break down the 2025 tax reconciliation legislation. They explore how the new law preserves key provisions of the Tax Cuts and Jobs...more

Ballard Spahr LLP

President Trump’s Budget Extends His 2017 Individual Tax Provisions

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President Trump signed into law what is commonly referred to as the One Big Beautiful Bill Act (OBBBA), extending provisions from the Tax Cuts and Jobs Act of 2017 otherwise set to expire at the end of this year. The new...more

Winthrop & Weinstine, P.A.

Sweeping Budgetary and Tax Legislation Enacted, Impacting All Sectors

On July 3, 2025, the U.S. House of Representatives passed H.R.1, referred to as the “One Big Beautiful Bill Act” (“OBBBA”). The following day, President Trump signed the bill into law, marking a key milestone in his...more

Levenfeld Pearlstein, LLC

The One Big, Beautiful Bill’s Key Provisions

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

Husch Blackwell LLP

One Big Beautiful Bill Act Expands Qualified Small Business Stock Exclusion

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On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” into law. Among notable tax legislation, the act expanded the qualified small business stock exclusion, potentially making C Corporation tax status a...more

Vinson & Elkins LLP

One Big Beautiful Bill Act: Key Tax Impacts for Businesses

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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

BakerHostetler

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

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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

Ropes & Gray LLP

2025 Tax Legislation Update: One Big Beautiful Bill Act Narrowly Passes Senate

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The “One Big Beautiful Bill Act” (the “BBB”) was passed by the U.S. House of Representatives on May 22, 2025 (such version, the “House Bill”) as part of the Republican Congress’s reconciliation package. The BBB generally...more

Jenner & Block

Client Alert: US Tax Legislation

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The US House and Senate are negotiating toward a July 4, 2025 deadline for the next massive US tax legislation. Current proposals are designed to continue many of the business-friendly provisions of President Trump’s 2017 tax...more

Baker Botts L.L.P.

"The One Big Beautiful Bill" Key Tax Takeaways

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On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”). The BBB makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts and Jobs Act...more

A&O Shearman

Summary of key provisions in House reconciliation bill

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On May 22, 2025, the U.S. House of Representatives narrowly passed the House budget reconciliation bill (H.R. 1) (the “House Bill”) by a party-line vote of 215 – 214. The House Bill, which includes significant tax law...more

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