OBBA of 2025: Individual Overview

Description

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

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

Objectives

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

Designed For

CPAs in public practice and industry seeking an update on recent legislative changes impacting individual taxpayers.