Course Description

Sweeping new legislation passed on July 4, 2025, titled “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14” and referred to as the One Big Beautiful Bill Act (OBBBA) became law. The One Big Beautiful Bill Act Tax Provisions course, offering 6 CPE credits, 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 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. Accordingly, the course is segmented as follows:

Course Learning Objectives
After completing this course, students should be able to: 

• Recognize the new standard deduction amounts;
• Identify the new senior, overtime and tip deductions;
• Recognize the enhancements made to the –
  • Child Tax Credit,
  • Adoption Tax Credit,
  • Child and Dependent Care Tax Credit,
  • Paid Family and Medical Leave Tax Credit, and
  • Low-Income Housing Tax Credit;
• Discover the changes made to third-party network transaction reporting;
• Recognize the changes made to the business interest deduction limitation;
• Identify the various energy-related tax credits that have been terminated or modified;
• Apply the new casualty loss deduction limitations;
• Identify the Achieving a Better Life Experience (ABLE) account modifications; and
• Recognize the permanent enhancement of low-income housing tax credit.

Learning Objectives

• Please refer to the course description for the learning objectives.

Prerequisites

• None