Webcast: One Big Beautiful Bill Act - What is in the New Law?
Overview
This 4-credit hour course covers the One Big Beautiful Bill Act (HR 1), a landmark law passed before July 4, 2025. Essential for tax professionals, it permanently extends and enhances many 2025 expiring tax provisions from the Tax Cuts and Jobs Act, accelerates most energy incentive expirations from the Inflation Reduction Act, and adds new, temporary individual tax relief (qualified tips, overtime, car loan interest) and “Trump Accounts.” By course end, you'll be ready to recognize, apply, and advise on these changes for tax year 2025 and beyond.
If you can't make this session, we will have a second offering of the same course on July 24 from Noon - 3:30 p.m..
Highlights
- Permanent Individual Tax Relief & New Temporary Deductions: Lower tax rates, higher standard deductions, enhanced child tax credit, new temporary senior, qualified tip, overtime, and car loan interest deductions, plus Trump Accounts.
- Permanent Business Tax Reform & Domestic Investment Incentives: Permanent 100% bonus depreciation, full domestic R&E deduction, increased Section 179 limits, and special depreciation for qualified production property.
- America-First International Tax Reforms: Modified foreign tax credits, changes to FDII and Net CFC Tested Income (formerly GILTI) deductions, increased BEAT rate, and repeal of tax-free deemed foreign investment return (QBAI).
- Health Tax Reforms: Changes to Premium Tax Credit eligibility and recapture, expanded HSA eligibility (Bronze/Catastrophic plans), and direct primary care service treatment.
- Community Development & Small Business Enhancements: Permanent extension/enhancement of Opportunity Zones, LIHTC, NMTC, and QSBS gain exclusion, plus information reporting threshold adjustments.
- Termination of Green New Deal Subsidies: Accelerated termination/restriction of clean energy credits/deductions (clean vehicles, alternative fuels, energy-efficient homes, clean electricity production/investment).
Leader(s):
Leader Bios
Edward K. Zollars, CPA, Thomas, Zollars & Lynch, Ltd.
Edward K. Zollars, CPA, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas, Zollars & Lynch, Ltd. He has been in practice for more than 35 years, specializing in tax issues for closely held businesses and individuals. Zollars has been professionally involved with both tax and technology issues, combining the two disciplines in producing the Current Federal Tax Development Update Podcast and website, dealing with current tax issues. He has been a member of AICPA Tax Division Committees focusing on tax and technology issues and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. He is also a member of the Phoenix Tax Workshop’s Advisory Committee and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs. Zollars was selected as a Life Member by the Arizona Society of CPAs in May, 2010. Along with writing, editing and presenting courses for Loscalzo Institute, Zollars has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid-1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state societies of CPAs.
Non-Member Price $179.00
Member Price $136.00