One Big Beautiful Bill Act (OBBBA) of 2025
The One Big Beautiful Bill Act of 2025 introduces changes to depreciation, Section 179 limits, and deductions for tips and overtime. Review the software updates and resources to help your clients comply with the new law.
On July 3, 2025, the U.S. Congress passed the One Big Beautiful Bill Act (OBBBA) of 2025, which President Trump signed into law on July 4, 2025.
Resources
If you're a Thomson Reuters Checkpoint subscriber, you have exclusive access to the
Checkpoint Executive Summary: The Act of 2025
, which highlights the main provisions of the new law. You’ll also find ready-to-send legislation letters for your individual, business, and payroll clients, outlining key changes, important dates, and relevant IRC sections to help them prepare and plan for the updates.You can also check out the Thomson Reuters Tax & Accounting Resource Center. It covers topics like How the 'One Big Beautiful Bill' reshapes SALT planning, Retroactive tax law for tips and overtime demands immediate action, payroll expert cautions, and Recognizing the biggest hits and misses of OBBBA.
The IRS has a fact sheet FS-2025-03 discussing some of the new provisions for working Americans and seniors. The IRS also announced there's no changes to individual information returns or withholding tables for 2025 under OBBBA.
