With the passage of the One Big Beautiful Bill (OBBB), below is a summary of notable changes to the tax code for businesses, as well as an outline of notable changes for individuals. The Qualified ...

Under the new law, reporting thresholds for Form 1099-K (for payment card and third-party network transactions), Form 1099-MISC (for payments not covered by other 1099 forms), and Form 1099-NEC (for ...

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A summary of key provisions of the recently enacted reconciliation package informally known as the One Big Beautiful Bill Act (OBBBA) impacting finance, employee benefits and executive compensation, ...

The OBBBA reduces tax burdens for lower-to middle-income retirees. It eliminates the big rush to convert traditional retirement accounts to Roth accounts. Its new Trump Accounts could make the next ...

Refunds will be larger than typical in the upcoming filing season because of the One Big Beautiful Bill Act’s (OBBBA) tax cuts for 2025. Tax Foundation estimates the OBBBA reduced individual taxes by ...

For non-itemizers, the One Big Beautiful Bill Act (OBBBA) increases the standard deduction and adds a deduction for charitable donations. For itemizers, the OBBBA creates a floor on the charitable ...

The One Big Beautiful Bill (OBBB) Act, signed into law by President Donald Trump on July 4, 2025, has proved to be highly controversial, not least because of its provisions for cuts to Medicaid and ...