Monthly Archives: August 2025

One Big Beautiful Bill Act of 2025 Provisions

One Big Beautiful Bill Act of 2025 Provisions

The One Big Beautiful Bill Act of 2025 has a significant effect on federal taxes, credits and deductions. It was signed into law on July 4, 2025, as Public Law 119-21. These provisions go into effect in 2025: Read the full IRS provisions: https://www.irs.gov/newsroom/one-big-beautiful-bill-act-of-2025-provisions

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Unlocking Savings: New Tax Breaks for Overtime and Tips – What Employers Need to Know

Unlocking Savings: New Tax Breaks for Overtime and Tips – What Employers Need to Know

In a sweeping move set to reshape employee paychecks, the newly enacted One Big Beautiful Bill Act (OBBBA) introduces two significant federal tax deductions for hourly workers: one for overtime pay and another for tip income. Dubbed the “No Tax on Overtime” and “No Tax on Tips” provisions, these changes mean that from 2025 through 2028, many employees can exclude…

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