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The One Big Beautiful Bill Act Tax Provisions

  • ITEM SKU
    8535
  • CPE Hours
    6
  • Full Course Price
    $59.50
Exam Questions: 30
Course Level: Basic
Pages: 140 | Content: 124, Supplemental: 16
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 8535

Sweeping new legislation, referred to as the One Big Beautiful Bill Act (OBBBA), passed on July 4, 2025 and became law. The One Big Beautiful Bill Act Tax Provisions course examines the tax provisions of the Act, beginning with those provisions that are immediately effective for 2025, followed by provisions that become effective in 2026 and beyond. The new law makes permanent many of the tax provisions of the Tax Cuts and Jobs Act (TCJA) and makes changes to existing tax law, some permanent and others temporary.

A brief explanation of existing tax law prior to the OBBBA’s passage is provided, and appropriate context is added to facilitate understanding of the pre-enactment environment and the impact of the legislative changes. The course will discuss both the individual and business tax provisions and is organized along effective-date lines and whether the principal effect will be experienced by individual or business taxpayers.All course material provided. No prerequisites. Course level: Course level: Basic.

EA Program Approval Number: ZX34G-T-00665-25-S

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Course Information

Table of Contents
  • Individual Taxpayers Provisions - 2025 Effective Date
  • Business Taxpayers Provisions - 2025 Effective Date
  • Business Taxpayers Energy-Related Changes - 2025 Effective Date
  • Individual Taxpayers Provisions - 2026 and Later Effective Date
  • Business Taxpayers Provisions - 2026 and Later Effective Date
Objectives
  • To recognize the new standard deduction amounts
  • To recall the new maximum state and local tax (SALT) deduction
  • To recall the new senior deduction
  • To identify how the OBBBA changed the Child Tax Credit
  • To recall the tax deductions for –
    - Tip income;
    - Overtime pay;
    - New car loan interest; and
  • To identify certain clean energy incentives
  • To recall the changes made to third-party network transaction reporting
  • To identify the changes to bonus depreciation
  • To recognize the increased dollar limitations applicable to expensing certain depreciable assets
  • To recall the special depreciation allowance for qualified production property
  • To identify how businesses treat research and experimentation expenditures for tax purposes
  • To recognize the change in the business interest deduction limitation
  • To recall how the nuclear power production credit claimed by prohibited foreign entities is affected by the OBBBA
  • To identify how the OBBBA affects clean energy credits
  • To recognize the changes made to the advance manufacturing credit
  • To identify how the intangible drilling and development cost treatment is modified for calculation of adjusted financial statement income
  • To recognize how the definition of qualifying income for PTPs is expanded
  • To recall changes to the AMT thresholds and exemptions
  • To identify deductibility of mortgage insurance premiums
  • To recognize changes made to the –
    - Casualty loss deduction
    - Miscellaneous deductions subject to 2%
    - Transportation fringe benefits
    - Moving expense treatment
    - Deductibility of wagering losses
    - ABLE accounts
    - Savers credit
    - Child and dependent care tax credit
    - Dependent care assistance program
  • To recall the reduction on itemized deductions
  • To identify the Trump account pilot program
  • To recognize the tax credit for contributions to scholarship granting organizations
  • To recall changes to the §529 distribution limit and education expense definition
  • To recall the partial charitable deduction for non-itemizers
  • To recognize the 1% remittance transfer tax
  • To recall the change in termination dates of –
    - Energy efficient home improvement credit
    - Residential clean energy credit
  • To recognize the tax changes made by the OBBBA with respect to –
    - Foreign taxes paid credit;
    - QBI deduction;
    - PFML credit;
    - Advanced manufacturing investment credit;
    - Child care credit;
    - New markets tax credit;
    - CFC look-thru rule; and
    - Dependent care assistance.
  • To recall the meal deduction for restaurants, caterers, fishing boats, and processers
  • To identify the changes in the –
    - Foreign tax credit limitations;
    - Foreign-derived deduction eligible income and net CFC tested income; and
    - Tax-free deemed return on foreign investments.
  • To identify how the ATI definition increases the business interest expense deduction
  • To recognize how the taxes on high-endowment private colleges and universities are applied

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