2025 Budget Reconciliation Bill Passed by the House: What's In It and What Comes Next?
Author: Allison McLeod
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Congress is on the cusp of passing the most consequential tax legislation in many years and the well-informed tax practitioner will want to stay abreast of these developments! This course will start with a short overview of the legislative process that is taken by the House and the Senate before the bill is ready to be signed by the President. We will then review the provisions in the House bill passed on May 22, 2025, with predictions on possible changes being made once it has been considered by the Senate.
Publication Date: June 2025
Designed For
This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses that have tax implications. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.
Topics Covered
- The Congressional process in passing tax legislation
- Major Provisions in the House version of Big Beautiful Bill
- Individual Provisions
- General Business Provisions
- International Provisions
- Health Care Account Provisions
- Qualified Opportunity Zones
- Employee Retention Credit
- Green Credits
- Industry Specific Provisions
- Tax-Exempt Organizations
- Other Observations
- Possible Senate Actions
Learning Objectives
- Explain the process that the House, Senate and Committees undertake in passing tax legislation
- Identify and discuss the various provisions contained in the Big Beautiful Bill passed by the House of Representatives on May 22, 2025
- Identify potential changes that could be made by the Senate
- Identify potential future implications of the Big Beautiful Bill
- Identify the purpose of the budget resolution passed by the House and Senate
- Identify the change the OBBB makes to the Qualified Opportunity Zone (QOZ) program
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
