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Managing Tax Practices for OBBBA in Tax Season 2026
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Subscribe26 FEB 2026 / ACCOUNTING & TAXES
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The newly introduced One Big Beautiful Bill Act (OBBBA) ensures major aspects of the 2017 Tax Cuts and Jobs Act, revives various business benefits and introduces temporary provisions to be employed through 2028. Notable changes include permanent Qualified Business Income deduction and adjustments to the standard deduction, as well as temporary perks like exclusion of a portion of qualified tip income and overtime pay from taxable wages and increased standard deductions for seniors, among others. The Act is expected to transform tax planning processes for tax professionals and high-net-worth individuals and enhance cash flow for businesses.
The tax code has a funny way of ruining a perfectly good Tuesday. One minute, you are reviewing depreciation schedules. Next, Congress drops the One Big Beautiful Bill Act, and your phone lights up like it is April 14. Again. H.R. 1, better known as the O...
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