Signed into law on July 4, 2025, the One Big Beautiful Bill Act permanently extended most Tax Cuts and Jobs Act provisions and added dozens of new tax rules. Some affect your 2025 taxes filed this spring. Most kick in for 2026 and beyond. Bottom line: This legislation touches almost every part of the tax…
Here’s the truth: the Big Beautiful Bill delivers $4.5 trillion in tax cuts over the next decade, and most of it flows straight to wealthy Americans. Over the next decade, the Big Beautiful Bill will cut taxes for the richest 10 percent of Americans by more than $14,700 per year per household and cut taxes…
Here’s the truth: the Big Beautiful Bill doesn’t directly raise income taxes on low-income families. But the poorest Americans still end up worse off. The reason? The 10% of poorest Americans will lose roughly $1,200 a year as they experience restrictions on government programs like Medicaid and food assistance, according to the Congressional Budget Office….
Here’s the truth: the $600 tax rule you’ve been hearing about for years never actually happened. If you’ve been dreading a flood of tax forms from Venmo or PayPal, breathe easy. The One Big Beautiful Bill Act rolled back the controversial $600 reporting threshold in July 2025. The rule is officially dead. What You Need…