July 16, 2025

Big Beautiful Bill - July 2025

The Big Beautiful bill was passed and signed into on July 4, 2025.  This is a significant piece of legislation that, most importantly, made permanent the tax provisions of the 2017 Tax Cuts and Jobs Act.  The 2017 law was set to expire on 12/31/25.  Had it not been extended or made permanent, the law would revert back to pre-2017 provisions.  This would have imposed a large tax increase on taxpayers.

This brings certainty to the tax code.  Individuals and businesses can now engage in tax planning with greater confidence in the future.

Below is a summary of the bill:

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