News & Analysis as of

Tax Legislation One Big Beautiful Bill Act U.S. Treasury

Eversheds Sutherland (US) LLP

Low Hanging Fruit: IRS Releases Rev. Proc. 2025-28 Providing Procedural Guidance for Domestic R&D Costs While Taxpayers Await...

On August 28, 2025, the Internal Revenue Service (IRS) and Department of the Treasury (Treasury) released Rev. Proc. 2025-28 providing procedural guidance for taxpayers seeking to take advantage of the One Big Beautiful Bill...more

Saul Ewing LLP

New Provision Provides Above-The-Line Deduction for Overtime Pay

Saul Ewing LLP on

The new tax legislation, part of the "One Big Beautiful Bill", includes a temporary tax break for overtime pay, allowing eligible workers to deduct a portion of their overtime earnings from their federal income taxes. Section...more

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