Taxes August 30, 2025
SPECIAL SERIES: Spotlight on 2025 ‘Big Beautiful Bill’ Tax Law Changes
This series of articles spotlights key tax issues and changes made to tax law in 2025 and the years to come as a result of the OBBBA.
Special Section: Guide to 2025 Tax Changes August 1, 2025
Trump Tax Law Builds a New Foundation for Taxation
Along with the extensions, the OBBBA makes some other technical tweaks that may benefit some individuals in the lower tax backets. All brackets will continue to be adjusted annually for inflation.
Taxes July 31, 2025
New Federal School Voucher Program Poses a Quandary for States: Opt In or Opt Out?
A tax credit in Trump’s signature law leaves states to sort out rules, funding, and oversight.
Taxes July 30, 2025
One Big Beautiful Bill Act Changes 1099 Thresholds
The One Big Beautiful Bill Act raises the 1099-MISC and 1099-NEC reporting thresholds to $2,000.
State and Local Taxes July 28, 2025
One Tax Change in Trump’s ‘Big Beautiful Bill’ That Even Illinois Gov. JB Pritzker Supports
The budget reconciliation plan Republicans pushed through Congress this summer includes a tax change that Democrats as well as some Republicans in high-tax blue states have backed for years.
Taxes July 28, 2025
In Las Vegas, House Republicans Take Victory Lap on ‘No Tax on Tips’ Policy
"No tax on tips" took center stage on July 25 during a visit from the House Ways and Means Committee to Las Vegas to promote President Donald Trump's One Big Beautiful Bill Act.
Taxes July 28, 2025
4 Rich Colleges Dodged a Big Trump Tax—and May Have an Unlikely Ally to Thank
Four small wealthy and elite private colleges in Massachusetts may have a conservative college in the Midwest in part to thank for escaping a hike in an endowment tax under President Donald Trump’s tax law.
Small Business July 25, 2025
Some Small Business Owners Sweating Impact Trump Tax Law Will Have on Their Bottom Line
Business owners have shared concerns about cuts to Medicaid and other health care programs, while the U.S. Chamber has praised the new law as pro-growth.
Taxes July 25, 2025
Trump’s Big Bill Boosts Micron’s Tax Break for Chip Plants by About $5 Billion
The bill increases an existing investment tax credit from 25% to 35% for semiconductor manufacturers who build new plants in the United States.
Taxes July 24, 2025
IRS Slot Machine Jackpot Threshold is Going Up, Experts Say
The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules.
Taxes July 21, 2025
Trump Tax Law to Add $3.4 Trillion to U.S. Deficits, CBO says
The Congressional Budget Office score for the law, released July 21, reflects a $4.5 trillion decrease in revenues and a $1.1 trillion decline in spending through 2034, relative to a current-law baseline.
Taxes July 18, 2025
5 Trump Tax Law Changes to Marketplace Insurance
The new law implements changes to premium tax credit rules and makes marketplace insurance more expensive and harder to keep.