CohnReznick Presents: Understanding the One Big Beautiful Bill – What you need to know, now

With the wide-reaching legislative package commonly referred to as the One, Big Beautiful Bill Act (OBBBA HR1) now enacted, many are asking: What’s included, and how will it impact me? Whether you’re tracking regulatory shifts or just want clarity on what’s ahead, our team has been monitoring the situation to help you stay informed and prepared.

Join members from CohnReznick’s National Tax practice and MG Housing Strategies as we walk through the main components of the bill, anticipated timelines for implementation, and areas that may see the most immediate impact.

Key topics:

• Washington watch: A legislative update from the Hill.
• Federal tax landscape: A breakdown of key updates including bonus depreciation, Section 163(j), Section 179, R&D (Section 174), PTET, and more.
• International tax focus: Coverage of the (now-renamed) GILTI and FDII, BEAT, the remittance tax, and enforcement trends in foreign tax policy, and proposed Section 899.
• Energy sector spotlight: Developments impacting energy-related tax strategies
• Individual tax proposals: From SALT deduction changes to Section 199A and QSBS expansion—what’s on the table for individuals?
• Emerging incentives: Explore Opportunity Zones and LIHTC.