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Proskauer Rose LLP

UK Tax Round Up - July 2025

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Welcome to July’s edition of our UK Tax Round Up. Apart from the draft legislation and accompanying material released on 21 July as part of “L-Day” (legislation day), July was a fairly quiet month for UK tax developments....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

Royer Cooper Cohen Braunfeld LLC

One Big Beautiful Bill Expands Key Tax Incentives Including Section 1202 Qualified Small Business Stock and Qualified Opportunity...

The reconciliation bill, known as the “One Big Beautiful Bill” (the “BBB”), was recently signed into law on July 4th. The BBB, among many other things, made significant changes in tax law, building on the foundations created...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

ArentFox Schiff

OBB-BA-Di, Ob-La-Da, Life Goes On, Brah? Life – and Tax Policy – Goes On

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On July 4, President Donald Trump signed into law P.L. 119-21, the “One Big Beautiful Bill Act” (OBBBA), enacting significant changes to the US tax system....more

McDermott Will & Schulte

Corporate taxpayers: Key One Big Beautiful Bill Act changes to international and domestic taxes

On July 4, 2025, US President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law. The legislation introduces significant changes to both international and domestic business tax rules for US taxpayers. While...more

K&L Gates LLP

Tax Changes in the Final Budget Reconciliation Bill

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On 3 July 2025, the House passed the Senate’s version of H.R. 1, the budget reconciliation bill formerly known as the “One Big Beautiful Bill Act” (the Act). President Trump signed the Act into law on 4 July 2025. The...more

WilmerHale

One Big Beautiful Bill Act

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On July 4, 2025, the President signed into law the “One Big Beautiful Bill Act” (the “Act”). Among other things, the Act makes permanent many provisions of the 2017 Tax Cuts and Jobs Act (the “TCJA”) that otherwise would...more

Alston & Bird

Breaking Down the Tax Provisions of the One Big Beautiful Bill Act

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The One Big Beautiful Bill Act is a massive bill that overhauls much of the U.S. tax system. Our Federal & International Tax and State & Local Tax teams cover the Act’s key tax provisions for individuals and businesses....more

Stinson LLP

One Big Beautiful Bill Explained

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On July 4, President Trump signed into law the One Big Beautiful Bill Act (Bill), which was approved by the Senate and House earlier in the week.  The 870 page-bill covers nearly every sector of the American economy, and...more

Hone Maxwell

Tax Law Changes in the One, Big, Beautiful Bill Act: Key Takeaways

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The One, Big, Beautiful Bill Act, passed on July 4, 2025, introduces many significant changes to U.S. tax law, affecting individual, estate and gift, business, and international tax provisions. For some of these changes, it...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

Baker Botts L.L.P.

The "One Big Beautiful Bill" Key Tax Takeaways

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On July 4, 2025, the legislation commonly known as “The One Big Beautiful Bill Act” (the “BBBA”) was enacted. The BBBA makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts...more

Holland & Hart LLP

Congress Changes the FDII Deduction in the One Big Beautiful Bill

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Congress made a number of changes in the One Big Beautiful Bill Act (H.R. 1), signed into law on July 4, 2025, impacting the Foreign-Derived Intangible Income (FDII) deduction in Section 250. Click here for a link to a...more

Cadwalader, Wickersham & Taft LLP

Senate and House Seek Common Ground on Tax Bills

On June 16, 2025, the Senate Finance Committee released its draft FY 2025 budget bill, which generally incorporates most of the House’s tax proposals, which we previously summarized here, but also differs in various aspects. ...more

Whiteford

Client Alert: Inside the One Big Beautiful Bill Crucial Tax Updates for Individuals, Business Owners, and Nonprofits

Whiteford on

On May 22, 2025, the House of Representatives passed H.R. 1-119th Congress (2025-2026), titled as the “One, Big, Beautiful Bill Act” (the “Act”), a budget bill that, among other things, addresses soon to sunset provisions of...more

Baker Botts L.L.P.

"The One Big Beautiful Bill" Key Tax Takeaways

Baker Botts L.L.P. on

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

Skadden, Arps, Slate, Meagher & Flom LLP

The One Big Beautiful Bill Act: An Initial Analysis of Key Tax Proposals

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...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

Holland & Knight LLP

Impuesto de Timbre, ¿otra vez?

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En este episodio de "A Lo Legal En Par Minutos", el socio Edwin Cortés conversa con Juan Pablo Díaz, abogado de derecho tributario, sobre el impuesto de timbre, el cual se estableció al 1 por ciento en febrero en Colombia...more

International Lawyers Network

Episode 93: Maximiliano Concha Rodríguez | PAGBAM Schwencke, Chile

Maximiliano Concha Rodríguez is counsel with PAGBAM | Schwencke, Chile, the ILN's member firm. In this episode, Lindsay and Max chat about the unending tax reforms in Chile, the recent tax treaty between the US and Chile, and...more

Skadden, Arps, Slate, Meagher & Flom LLP

GILTI Conscience Podcast | Inside the IRS: A Conversation With Former Agency Officials

Tax of counsel Fred Goldberg and senior advisor for tax resolution strategies De Lon Harris, both formerly of the IRS, joined the hosts of “GILTI Conscience” for a comprehensive look at current developments at the agency,...more

Brownstein Hyatt Farber Schreck

Implications of the Election on the Tax Agenda for End-Of-Year Lame-Duck Session and 118th Congress

Election Results - Results are accurate as of 2 p.m. ET. - Following record-breaking turnout in yesterday’s midterm elections, control of the 118th Congress remains unknown. Even as polling in the two weeks leading up...more

Herbert Smith Freehills Kramer

Proposed Legislation Would Impose New Corporate Minimum and Excise Taxes

On Aug. 7, the Senate passed H.R. 5376, the Inflation Reduction Act of 2022 (the Act). If approved by the House of Representatives, as expected, the bill will be sent to President Joe Biden for signature. The bill passed by...more

A&O Shearman

The Book Minimum Tax, Pillar 2 and Creditable Foreign Income Taxes

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As discussed in our alert earlier this week, the recently announced proposed reconciliation package—the Inflation Reduction Act of 2022, H.R. 5376 (the “Bill”)—would impose a new 15% minimum tax on the adjusted financial...more

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