Tax Law News and Insights

Highlights The U.S. Congress has enacted the One Big Beautiful Bill Act (OBBB), renamed "An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14." President Donald Trump signed the legislation into law on the afternoon of July 4, 2025. This Holland & Knight alert reviews...

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The long-anticipated "sunset" of the Tax Cuts and Jobs Act of 2017 (TCJA) was slated for the end of 2025. Upon this "sunset," the federal estate and gift tax exemptions—which reached $13.99 million per individual in 2025—would have dropped to roughly $7 million per individual (after indexing for inflation), significantly...

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Takeaways: TCJA provisions—including individual and business tax cuts—are now permanent. New deductions target middle-class earners, including relief on tips, overtime, and car loans. Major boosts for businesses: 100% bonus depreciation, expanded R&D expensing, and more. Green energy tax credits are rolled back, while Opportunity Zones receive a permanent extension. On...

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