Federal Tax Overview of the One Big Beautiful Bill Act (OBBB)

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Signed into law on July 4, 2025, the One Big Beautiful Bill Act (OBBB) introduces sweeping federal tax reforms that will significantly impact both individual and business taxpayers. This timely and informative webinar provides a comprehensive overview of the key tax provisions included in the OBBB, including the long-anticipated permanence of select 2017 Tax Cuts and Jobs Act (TCJA) provisions. Participants will gain valuable insights into newly introduced “above the line” deductions, updates to itemized deductions, and important modifications to existing credits.

Additionally, the session will explore the repeal of certain individual green energy credits, the revision of the estate and gift tax exemption, and adjustments to business-related deductions and credits. With the IRS currently developing official guidance for the 2026 filing season, the course will also highlight areas pending clarification and identify critical implementation dates. This webinar is an essential resource for staying compliant and strategically prepared for the upcoming tax season.

Topics Covered Include:
  • 2017 Tax Cuts and Jobs Act (TCJA) provisions made permanent
  • New temporary tax deductions (tips, overtime, auto loan interest, and senior deduction)
  • Changes to itemized deductions
  • Repeal of individual green energy credits
  • Estate & gift tax exemption change
  • Changes to business deductions and credits
Your Benefits For Attending:
  • Understand which temporary TCJA provisions are now permanent under the OBBB
  • Learn about new temporary deductions, including those for tips, overtime, auto loan interest, and seniors
  • Identify changes to itemized deductions, estate & gift tax exemptions, and business credits
  • Stay informed on the repeal of select green energy credits and what it means for individual taxpayers
  • Gain clarity on areas awaiting IRS guidance and how to prepare for the 2026 filing season

By attending this webinar, you’ll gain the critical knowledge necessary to navigate the federal tax changes introduced in the OBBB and begin preparing with confidence for the upcoming filing season.

Who Would Benefit from this Webinar:

Tax professionals, CPAs, financial advisors, and business owners looking to understand the implications of the latest federal tax law changes and how they affect personal and business tax planning.

Level: Intermediate
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Taxes
Program Prerequisites: None
Advance Preparation: None

  • Chuck Borek

    Chuck Borek

    Chuck Borek is a practicing attorney and founder of  the Borek Group, LLC. Chuck is also a CPA, and his background includes  five years as a partner in a public accounting firm. He received his law degree and MBA summa cum laude from the University of Baltimore in 1993, where he was editor [...]

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Webinar Survey Overall Rating

This webinar received a total of 15 survey responses. Attendees have given an average rating of 4.6 stars out of a possible 5, reflecting the quality and value of the content presented.

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4.6 / 5
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4.7 Stars
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4.6 Stars
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4.6 Stars
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4.6 Stars
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4.7 Stars

Reviews From Webinar Survey

Our webinars are crafted to deliver exceptional value and insight to business professionals. Below, you'll find genuine feedback from attendees.

Andrea S.
September 12, 2025
5.0 / 5
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Packed a lot of great information into a short amount of time.
Juliana L.
September 11, 2025
5.0 / 5
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no comment
Agueda G.
September 11, 2025
4.0 / 5
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Chuck is Very knowledgeable in this area.
Dawn G.
September 11, 2025
5.0 / 5
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Very informational
Paula D.
September 11, 2025
5.0 / 5
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Very good presenter
Lisa L.
September 11, 2025
5.0 / 5
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no comment
Elizabeth H.
September 11, 2025
4.6 / 5
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GREAT presenter and presentation deck!
Accounting T.
September 11, 2025
5.0 / 5
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One of the best ones I've been in. Explanations were clear, information useful, and slides were well laid out.
Shannon V.
September 11, 2025
5.0 / 5
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This presentation covered a wide range of changes in a timely manner.
Itsuko B.
September 11, 2025
5.0 / 5
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Frequently Asked Questions

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, introduced sweeping federal tax reforms affecting both individual and business taxpayers. The law's most significant provisions include permanently extending select Tax Cuts and Jobs Act provisions that had been set to expire, creating new temporary above-the-line deductions for tips, overtime pay, auto loan interest, and seniors, modifying itemized deductions, repealing certain individual green energy tax credits, revising the estate and gift tax exemption, and adjusting various business-related deductions and credits—including the treatment of R&D expenses under Section 174. For the 2026 filing season, tax professionals, CPAs, financial advisors, and business owners must understand both the substantive changes and areas where IRS implementation guidance is still pending. Proactive planning—rather than waiting for complete guidance—is essential to optimize tax positions under the new framework.
One of the most consequential aspects of the One Big Beautiful Bill Act was its permanent extension of select Tax Cuts and Jobs Act provisions originally enacted as temporary measures set to expire after 2025. Among the TCJA provisions made permanent: the individual income tax rate structure established in 2017, the increased standard deduction amounts, the enhanced child tax credit framework, the 20% deduction for qualified business income (Section 199A) available to pass-through entities, and the favorable capital gains and qualified dividend rate structure. Without the OBBBA, these provisions would have sunset at the end of 2025, triggering significant tax increases for many individuals and businesses. Making these provisions permanent eliminates a major source of planning uncertainty and allows taxpayers to make longer-term financial and business decisions with greater confidence. Professionals should note that some TCJA provisions were modified rather than simply extended, and others remain subject to phaseouts, income limitations, and future IRS guidance.
The One Big Beautiful Bill Act introduced several new temporary above-the-line deductions targeting specific categories of income and expenses for individual taxpayers. The most notable include: a deduction for tip income received by employees in service industries—allowing qualifying tipped workers to exclude a portion of tips from taxable income; a deduction for overtime pay, allowing workers who receive overtime compensation to deduct a portion of that additional earnings; a deduction for auto loan interest, restoring a limited form of consumer interest deductibility for vehicle purchases; and a new deduction for senior taxpayers, providing additional tax relief for individuals above a certain age threshold. These deductions are currently structured as temporary provisions with specific sunset dates that tax professionals must track. Because the IRS is still developing implementation guidance for several of these provisions, taxpayers and their advisors should monitor official IRS releases before finalizing 2025 or 2026 tax planning strategies that rely on them.
The One Big Beautiful Bill Act made significant adjustments to the federal estate and gift tax exemption—one of the most closely watched aspects of the legislation for estate planning professionals and high-net-worth individuals. Under the TCJA, the exemption had been temporarily doubled to approximately $13 million per individual (inflation-adjusted), but was scheduled to revert to pre-TCJA levels of approximately $7 million after 2025 without legislative action. The OBBBA addressed this cliff by revising the exemption level on a more permanent basis, though the specific new threshold and inflation adjustment mechanisms require careful review against the final statutory text and IRS guidance. For estate planners, financial advisors, and CPAs advising clients with significant assets, the OBBBA provisions eliminate significant planning urgency that had previously driven clients to accelerate gifting strategies before the anticipated sunset. Understanding the precise new exemption amounts, applicable dates, and any transitional rules is essential for accurate estate planning advice in the post-OBBBA environment.
The One Big Beautiful Bill Act repealed or substantially curtailed several individual green energy tax credits that had been expanded by the Inflation Reduction Act of 2022. Among the credits affected were the residential clean energy credit, the energy efficient home improvement credit, the clean vehicle credit for electric vehicle purchases, and certain other incentives tied to home energy efficiency and alternative fuel vehicles. The repeal represents a significant policy reversal for taxpayers who had been planning purchases—such as EVs or home solar installations—in reliance on the availability of those credits. Tax professionals should review the specific effective dates of each repeal, as some credits may have been eliminated prospectively while others had transitional rules or grandfather provisions for commitments made prior to enactment. For clients who had incorporated green energy credits into their tax planning, advisors must reassess projected tax liability and determine whether any purchases already completed qualify under prior law before the repeal took effect.