OBBA of 2025: Individual Overview

Overview

THE ONE BIG BEAUTIFUL BILL IS NOW THE ONE BIG BEAUTIFUL ACT!!! (Signed into law on July 4, 2025!). This program provides a summary of the major individual provisions of the OBBA of 2025 (H.R. 1), with a focus on the extended provisions, provisions made permanent without changes and those major changes, and new provisions for 2025 and beyond.

*Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Prerequisites

Basic knowledge of individual taxation

Objectives

• Familiarize participants with business provisions of the OBBA of 2025
• Identify key compliance issues
• Discuss tax planning implications of OBBA of 2025

Highlights

An overview of provisions of existing law extended or made permanent without substantial change, including:

• casualty losses, individual tax rates, alternative minimum tax
• Provisions of existing law extended or made permanent with substantial change, including: child tax credit, earned income credit, standard deduction, state and local tax deduction

New law provisions applicable to individuals, including deductions for:

• Tip income and overtime pay
• Social security income
• Car loan interest
• AGI charitable contribution deduction
• Trump account
• Repeal existing law provisions, including electric car credit and home energy credits