On May 22, 2025, the House of Representatives passed H.R.1, the One Big Beautiful Bill (OBBB) Act to avert a $4 trillion tax hike from the expiration of the 2017 Tax Cuts and Jobs Act (TCJA) and...

The U.S. House of Representatives on May 22, 2025, passed H.R. 1, the budget reconciliation bill known as the “One Big Beautiful Bill Act.” Prior to passage by the full House, the Rules Committee …

Extension of deduction for qualified business income and permanent. Sec. 110006. Extension of increased estate and gift tax exemption amounts and. Sec. 110007. Extension of increased …

1st Session REPORT 119–106 ONE BIG BEAUTIFUL BILL ACT R E P O R T OF THE COMMITTEE ON THE BUDGET HOUSE OF REPRESENTATIVES

Forms W-2, 1099-NEC, 1099-MISC, and 1099-K will be updated for tax year 2026 to provide separate reporting of the employee’s qualified tips and qualified overtime compensation.

The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, through the budget reconciliation process. This legislation contains provisions that reshape student financial aid, …

2 lowing: 3 SECTION 1. SHORT TITLE. 4 This Act may be cited as the ‘‘One Big Beautiful Bill