2025 Tax Legislation: The One Big Beautiful Bill

Overview

Congress passed on July 3, 2025, one of most consequential tax legislation in recent years. The well-informed tax practitioner will want to stay abreast of these developments! This course will start with a short background of this legislation as it made its way through Congress and to the President's desk. We will then review the final provisions that was approved by the Senate and passed by the House. We will also cover key issues that had been dropped from the initial House version and provide observations for possible future legislation.

Prerequisites

None

Objectives

• Understand the process that the House, Senate and Committees undertake in passing tax legislation
• Discuss the various provisions contained in the One Big Beautiful Bill passed by Congress of July 3, 2025, and sent to the President for signature
• Identify potential changes that could occur in future legislation or executive orders
• Become knowledgeable potential future implications of the One Big Beautiful Bill

Highlights

• The Congressional process in passing tax legislation
• Major Provisions in the House version of Big Beautiful Bill<br />
   o Individual
   o General Business
   o International
   o Health Care Accounts
   o Qualified Opportunity Zones>
   o Industry Specific Provisions
   o Tax Exempt Organizations
   o Miscellaneous Provisions