One Big Beautiful Bill: The Federal Tax Reform that Changes Everything
The One Big Beautiful Bill (OBBB) introduces sweeping federal tax reform for individuals and businesses, including tax and spending cuts, and increased defense and border security spending.
Explore Aprio’s collection of insights for help navigating OBBB provisions.
What is the One Big Beautiful Bill (OBBB)?
An Overview of its Major Provisions
On July 4, 2025, President Trump signed the OBBB into law. This tax and spending measure solidifies numerous tax law changes originally enacted in the Tax Cuts and Jobs Act (TCJA) of 2017 and signed into law during President Trump’s first term in office.
After an arduous process, Aprio’s Tax advisors have prepared a comprehensive overview of the bill, as well as a deep dive into the many notable provisions.
How Does the OBBB Impact You?
What Trump’s One Big Beautiful Bill Means for Individual Taxpayers
Changes to several notable provisions from the OBBB will have a direct impact on individual taxpayers, including the SALT cap, estate and gift tax exemption, child tax credit, and the deduction on qualified tips.
A New Dawn for Business Tax: How the One Big Beautiful Bill Reshapes the Tax Landscape
The OBBB introduces significant changes to business tax, extending, modifying, or making permanent many of the tax provisions enacted as part of the TCJA that will require businesses to adjust their tax strategies.
Energy Credits on the Clock: What Taxpayers Need to Know About Accelerated Expiration Dates
Taxpayers who leverage energy credits will need to understand how the OBBB modifications will affect the application of credits, depreciation adjustments, and foreign restrictions on electricity production and nuclear power.
From FTC to BEAT: Understanding the Future of International Tax After H.R. 1
Multinational corporations will face substantial changes to provisions that will impact the Foreign Tax Credit, Base-Erosion and Anti-Abuse Tax, Net CFC Tested Income (formerly GILTI), and Foreign-Derived Deduction Eligible Income (formerly FDII).
Explore Insights Across Key Industries
Tariffs Watch:
Policy Updates and Their Impact
on Global Trade
2024 Year-End Tax Update: Major Tax Changes, Expiring Provisions & How It Impacts You
In Aprio’s annual year-end tax update, we review evergreen planning strategies while also discussing key dynamics, such as the expiration of notable tax provisions and the political landscape, that will make planning for the 2025 tax year particularly challenging.
