Introduction

The One Big Beautiful Bill Act, also known as the OBBBA, is a diverse and far-reaching bill that changed many aspects of the tax code. Since the OBBBA and the Tax Cuts and Jobs Act now work together as the foundation for the US tax code, this course will cover both bills and how they work together and intersect. The OBBBA is an extremely large bill, so for the purposes of this course, we will only go over the material that relates to the tax code. This material is found under Title VII of the OBBBA, labeled "Finance." The Tax Cuts and Jobs Act is organized into four primary sections of: Individual Tax Reform, Business Tax Reform, Exempt Organizations and International provisions. This course will provide a thorough review of all portions of the OBBBA and explain how this bill changes the wider tax landscape through its individual provisions. 

Learning Objectives

At the end of this course, students will be able to:

• Review Chapter 1 of the OBBBA, "Providing Permanent Tax Relief for Middle-Class Families and Workers," and identify how the new provisions introduced in this chapter alter the current US tax code;

• Review Chapter 2 of the OBBBA, "Delivering on Presidential Priorities to Provide New Middle-Class Tax Relief," and identify how the new provisions introduced in this chapter alter the current US tax code;

• Review Chapter 3 of the OBBBA, "Establishing Certainty and Competitiveness for American Job Creators," and identify how the new provisions introduced in this chapter alter the current US tax code;

• Review Chapter 4 of the OBBBA, "Investing in American Families, Communities, and Small Businesses," and identify how the new provisions introduced in this chapter alter the current US tax code;

• Review Chapter 5 of the OBBBA, "Ending Green New Deal Spending, Promoting America-First Energy, and Other Reforms," and identify how the new provisions introduced in this chapter alter the current US tax code;

• Review Chapter 6 of the OBBBA, "Enhancing deduction and Income Tax Credit Guardrails, and Other Reforms," and identify how the new provisions introduced in this chapter alter the current US tax code;

CPE Credit: 13 CPE for CPAs and EAs

Level: Intermediate

Instructional Method: Self-Study

NASBA Field of Study: Taxes

Program Prerequisites: Basic understanding of federal tax code. 

Advanced Preparation: None