Signed into law on July 4, 2025, OBBBA, officially called “An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14.”, changes funding for various federal programs, raises the debt ceiling, and makes numerous revisions to the Internal Revenue Code. The following is a summary of some of the tax provisions contained in the legislation. For complete in-depth coverage, see chapter 5 of the What’s New Early Edition of TheTaxBook…
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