Seniors could keep more money with new tax break phasing in for 2025 returns. The extra deduction helps lower- and middle-income retirees facing rising costs.

"No Tax on Overtime" is a provision included in the tax reform bill known as the One Big Beautiful Bill Act, which passed in ...

This article highlights five practical considerations designed to support your efforts to interpret the OB3’s impact and help ...

A bill with bipartisan sponsors in the House became another option to reverse the provision that allows 90% deductions on ...

Chairman of the House Ways and Means Committee, Rep. Tom Cole, jumped on board with Rep. Dina Titus' bill to reverse the ...

OBBBA generally maintains the current individual income tax brackets set by the TCJA, ensuring no increase in the marginal rates. Thus, 37% remains the highest rate for ordinary income and 20% for ...

Treasury Secretary Scott Bessent talks to reporters about his lunch meeting with Republican senators and the schedule for getting the Republican megabill to President Donald Trump's desk by July 4, at ...

The One Big Beautiful Bill Act (the OBBBA), Pub. L. No. 119-21, was enacted July 4, 2025. The OBBBA makes numerous changes to the United States Internal Revenue Code of 1986 (the Code). Fulfilling a ...

The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and ...

Treasury Secretary Scott Bessent asked congressional leadership to remove a provision from the Republican tax legislation that would give the Treasury Department the ability to implement a so-called ...

As members of the House and Senate worked out a compromise tax measure last week, they dropped nearly every provision that charities and lawmakers had sought to cut down on abuses of charity tax laws ...

WASHINGTON (AP) — Congressional Republicans agreed to remove the so-called revenge tax provision from President Donald Trump’s big bill on Thursday after a request by Treasury Secretary Scott Bessent.