On July 4, 2025, in addition to celebrating American independence, President Trump signed into law what is commonly referred to, unofficially, as the One Big Beautiful Bill Act (the Act), which extends and solidifies many provisions of the 2017 Tax Cuts and Jobs Act (TCJA, originally enacted by President Trump in 2018 during his first term) and makes significant changes to the Internal Revenue Code and federal tax law. The Act was passed by both the Republican-majority House and Senate after ...
