Comparison and Analysis of the One Big Beautiful Bill and Its Impact on Businesses and Taxpayers
Learn how the recently passed One Big Beautiful Bill Act (OBBBA) tax changes may impact your personal or business planning with this comparison chart.
Key Tax Changes in the One Big Beautiful Bill
What’s in the One Big Beautiful Bill? Signed into law on July 4, 2025, this sweeping legislation includes more than 100 tax provisions. It builds on the Tax Cuts and Jobs Act (TCJA), modifying and in some cases permanently extending key provisions. The bill aims to update the tax code, stimulate business investment, and introduce new benefits for individual taxpayers. It also accelerates the phaseout of several clean energy incentives.
IRS Extends tax Deadlines for Hurricane Milton Victims in Florida
IRS grants disaster relief to taxpayers located in certain Florida counties. Affected taxpayers have until May 1, 2025, to file returns and make payments.
Hurricane Helene: Deadline Extensions, Penalty Relief, and Insights from the PBMares Tax Team
The IRS took action quickly after Hurricane Helene traveled 400+ miles, claiming lives and wreaking havoc in the Southeast. Learn about the important information regarding deadline extension and penalty relief.
Tax Relief and Deadline Extensions for Hurricane Debby
Taxpayers impacted by Hurricane Debby in South Carolina, North Carolina, Florida, and Georgia now have until February 3, 2025 to make certain tax payments and file various tax returns, including 2023 individual and business tax returns currently on extension.
IRS Provides Tax Relief & Deadline Extensions to 67 Texas Counties Affected by Hurricane Beryl
The IRS has announced tax relief measures for individuals and businesses in 67 Texas counties affected by Hurricane Beryl. Taxpayers in these counties now have an extended deadline until February 3, 2025, to file various federal individual and business tax returns and to make any necessary tax payments.
Fiscal year 2025 budget proposal contains items affecting exempt organizations
Biden administration's budget proposal includes items affecting donor advised funds and private foundations.
IRS Launches ERC Voluntary Disclosure Program
The IRS launched the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP), providing an opportunity for employers to correct mistaken Employee Retention Credit (ERC) claims penalty-free, with submissions due by March 22, 2024.
Tax Relief for American Families and Workers Act of 2024
On January 31, 2024 the House of Representatives passed the Tax Relief for American Families and Workers Act, providing business tax breaks and expanded child care credits. Learn if you should consider filing an extension for your 2023 individual and business tax return and consult with a professional tax advisor for evaluation.
Tax relief bill passes House, faces uncertain fate in Senate
Tax legislation packaging the child tax credit and favorable business tax provisions moves to the Senate with momentum but an uncertain fate.