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.
Learning Objectives:
- Familiarize participants with individual provisions of the OBBA of 2025.
- Identify key compliance issues.
- Discuss tax planning implications of OBBA of 2025.
Program Content:
- 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
Who should attend: CPAs in public practice and industry seeking an update on recent legislative changes impacting individual taxpayers.
Program Level: Intermediate
Developed By: Federal Tax Workshops, Inc
Instructor: Steven C. Dilley, CPA, JD, PhD
CPE Credit: 2 hours
Field of Study: Taxes
Prerequisites: A basic working knowledge of individual taxation.
Advanced Preparation: None
Note: This course qualifies for PTIN credit.
Steven C. Dilley, CPA, JD, PhD
Steve is President of Federal Tax Workshops, Inc., where for over 40 years, he has developed and presented continuing education seminars and webinars on tax, accounting and ethics topics for accountants and attorneys throughout the country. He is nationally known for his knowledge of the financial, accounting, and tax problems of the closely held business and has published numerous articles on these topics.
In addition, Steve is a Professor Emeritus of Accounting at Michigan State University, East Lansing, where he taught tax accounting. He has been received the “Distinguished Achievement in Accounting Education Award” in Michigan, as well as the MSU Accounting and Information Systems Department Outstanding Teacher Award.
Only registered attendees have access to the handout materials