The House today passed the Senate-passed version of the One Big Beautiful Bill Act (H.R. 1) (“OBBBA”), which includes a number of major tax provisions, including a number of provisions that would affect withholding and information reporting obligations (see prior coverage here, here, here, here, here, and here—note that
Tax
Senate Reconciliation Bill Retains No Tax on Tips Provision with Some Changes
After being passed by the House of Representatives, this year’s reconciliation bill (H.R. 1) moved to the Senate, which passed its own version of the legislation today, July 1. The Senate bill would preserve without significant change many tax-related items from the House bill. There are several provisions, however, where the Senate bill…
Senate Reconciliation Bill Would Retain Tax Deduction for Overtime Pay, Subject to Certain Restrictions
After being passed by the House of Representatives, this year’s reconciliation bill (H.R. 1) moved to the Senate, which passed its own version of the legislation today, July 1. The Senate bill would preserve without significant change many tax-related items from the House bill. There are several provisions, however, where the Senate bill…
Senate Reconciliation Bill Drops Unpopular UBTI Proposal for Transportation Fringes
After being passed by the House of Representatives, this year’s reconciliation bill (H.R. 1) moved to the Senate, which passed its own version of the legislation today, July 1. The Senate bill would preserve without significant change many tax-related items from the House bill. There are several provisions, however, where the Senate bill…
Senate Passes Stand-Alone Bill to Enact “No Tax on Tips”
On May 20, 2025, the Senate unanimously passed S. 129, the No Tax on Tips Act (the “Senate Bill”) which differs in several substantive ways from the “No Tax on Tips” provision included the House reconciliation bill (H.R. 1) passed by the House of Representatives (the “House Bill”) (see prior coverage). …
House Reconciliation Bill Would Expand the Employees Covered by Excess Remuneration Rules for Nonprofit Organizations
Early this morning, the House of Representatives passed a reconciliation bill that would enact significant tax provisions and spending cuts. The House Bill now heads to the Senate, where changes are likely before passage. This article is one of a series of articles discussing various proposals in the legislation that touch on tax withholding, reporting,…
House Reconciliation Bill Would Extend Tax Credits for Family and Medical Leave and Child Care
Early this morning, the House of Representatives passed a reconciliation bill that would enact significant tax provisions and spending cuts. The House Bill (H.R. 1) now heads to the Senate, where changes are likely before passage. This article is one of a series of articles discussing various proposals in the legislation that touch on tax…
House Reconciliation Bill Would Enact President Trump’s Campaign Promise to Eliminate Tax on Tips
The House of Representatives continues work on a reconciliation bill that would enact significant tax provisions and spending cuts. The various legislative committees have completed work on the areas of the bill within their jurisdiction, including the Ways and Means Committee, which proposed language that would enact $3.8 trillion in tax cuts over the next…
What’s Old is New Again: House Bill Would Resurrect UBTI for Tax-Exempt Organization Transportation Fringes, Make Permanent Suspension of Bicycle Commuting Reimbursement Exclusion
The House of Representatives continues work on a reconciliation bill that would enact significant tax provisions and spending cuts. The various legislative committees have completed work on the areas of the bill within their jurisdiction, including the Ways and Means Committee, which proposed language that would enact $3.8 trillion in tax cuts over the next…
HSA Changes Proposed in House Budget Reconciliation Bill
The House of Representatives continues work on a reconciliation bill that would enact significant tax provisions and spending cuts. The various legislative committees have completed work on the areas of the bill within their jurisdiction, including the Ways and Means Committee, which proposed language that would enact $3.8 trillion in tax cuts over the next…