Taxes 2025-2026: One Big Beautiful Bill Tax Law Changes and How That Impacts You

 

• The One Big Beautiful Bill (OBBB) makes many of the 2017 Tax Cut and Jobs Act (TCJA) tax law changes permanent while adding some temporary and permanent changes to the tax code.
• Some changes are in effect for your 2025 taxes (which you'll file in 2026), however, most of the changes won't take effect until 2026 and later.
• The One Big Beautiful Bill keeps many of the TCJA tax items, including the larger Standard Deduction, elimination of personal and dependent exemptions, lower tax brackets, and elimination of, or limits on, certain itemized deductions.
• The One Big Beautiful Bill temporarily adds changes for certain filers including no tax on tip or overtime income.

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