Practitioner’s Tax Action Bulletin®
On 7/4/2025, President Trump signed the One Big Beautiful Bill Act (P.L. 119-21; “the 2025 Act”), which contained numerous tax provisions extending provisions of the Tax Cuts and Jobs Act (P.L. 115-97; “TCJA”) passed during the first Trump Administration and eliminating many provisions of the Inflation Reduction Act (P.L. 117-169). Some of the most important provisions relating to individuals are summarized in the chart linked below:
Summary of Individual Tax Provisions in One Big Beautiful Bill Act
Editor’s Note: The full article is available in the Practitioner’s Tax Action Bulletin, as Tax Action Memo (TAM-2328), Issue 14, first published July 29, 2025, along with other valuable tax practitioner articles. Contact Our Sales Team for a Subscription to Checkpoint’s bi-monthly Practitioner’s Tax Action Bulletin, which is available in print, and online or to add Thomson Reuters Planner CS to your advisory toolkit.
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