New Tax Rules Are Rolling In — Are You Ready to Make the Most of Them?

Effective Dates of Key Tax Changes Under the One Big Beautiful Bill Act (OBBBA).

If you’re feeling overwhelmed by what’s in the new tax bill—you’re not alone. It’s big. It’s dense. And it affects nearly everyone.

To help you stay ahead, I’m sharing a powerful chart created by Spidell, one of the most trusted names in tax research. This isn’t just a list of dry legislative updates—it’s a practical, easy-to-use planning tool for individuals and businesses alike.

There are two parts to this chart, and both are worth your attention.

First: The Highlights

The first section gives you a clean, readable overview of the key tax-related provisions in the bill. On the left, you’ll find the main topics. On the right, you’ll see clear explanations of what each provision does.

Think of it as your quick-glance summary of the bill—without the legalese.

Second: The Timeline

This is where it gets even more useful. The second chart lays out the chronological timeline of when each provision takes effect. It includes:

• The effective year

• The bill section

• The updated Internal Revenue Code citation

This is incredibly valuable for planning ahead—especially if you’re advising clients, running a business, or managing investments. Most of the new provisions start in 2025 or 2026, and many run through 2028. Some provisions from the TCJA have been made permanent (particularly for individuals), while others—like the 21% corporate rate—remain unchanged because they were already locked in.

Bottom line? If you’re wondering what matters, when it hits, and how to prepare—this is your go-to resource.

Feel free to download it, print it, share it with your team—or bring it to our next planning session. This is exactly the kind of roadmap that turns confusion into strategy.

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CHARTS

Highlights of Key OBBBA Provisions

Topic	Provision
Individual tax provisions
TCJA revised tax rates and brackets	Makes TCJA changes permanent
TCJA increased the standard deduction and suspended personal exemptions. The 2025 standard deduction amounts are:• $30,000 (MFJ/Surv. Spouse)• $22,500 (HOH)• $15,000 (Single and MFS)	Increase TCJA standard deduction amounts to $31,500 (MFJ/SS); $23,625 (HOH), and $15,750 (Single/MFS) beginning with 2025 tax year and permanently repeal personal exemptions, other than the senior deduction discussed below
Personal exemption deduction for seniors	Allows for a personal exemption deduction of up to $6,000 for seniors (age 65 and up) for 2025 through 2028 tax years that begins to phase out when the taxpayer’s modified AGI exceeds $75,000 ($150,000 MFJ)
Itemized deduction phase-outs	Caps the benefit of itemized deductions for taxpayers in the 37% bracket at 35%, effective beginning with the 2026 taxable year
AMT exemption amounts and phaseouts	The TCJA’s increased exemption and phaseout amounts are generally made permanent, but, beginning with the 2026 tax year, the exemption phaseout amount for MFJ and surviving spouse filers reverts back to the 2018 $1 million threshold and the rate at which the exemption is phased out is doubled from 25% to 50%
SALT limitation	Increases the SALT deduction to $40,000 for the 2025 tax year and increases it by 1% through the 2029 tax year. Reverts back to $10,000 after 2029. No changes to passthrough entity tax treatment
Disaster relief	Retroactively extends the enhanced personal casualty loss deductions available for federal disasters declared prior to September 2, 2025, if the disaster incident period ends by August 3, 2025. This means non-itemizers can claim a qualified disaster loss and the 10% AGI threshold is waived.In addition, personal casualty losses can be claimed for State-declared disasters beginning with the 2026 taxable year
Charitable contributions deduction	• Allows non-itemizers to claim charitable deductions of up to $1,000 ($2,000 MFJ)• Permanently extends the 60% deduction for cash contributions• Imposes a 0.5% floor for individuals who itemize
Excess business loss limitation for non-itemizers	Permanently extends the excess business loss limitation

Topic	Provision
Individual tax provisions (continued)
Child Tax Credit (CTC) and Other Dependent Credit	Increases the CTC to $2,200 beginning with the 2025 tax year and provides for inflation adjustments thereafter.Social Security number required for child(ren) and one parent for purposes of CTC
No tax on tips	Provides a deduction of up to $25,000 for cash tips provided voluntarily to taxpayers in an “occupation that traditionally and customarily receive tips” (to be determined by Treasury Secretary) for the 2025 through 2028 tax years and that are reported to the IRS on a W-2 or 1099. Deduction begins to phase out for taxpayers with modified AGI of $150,000 ($300,000 MFJ)
No tax on overtime	Allows a deduction for overtime pay of up to $12,500 ($25,000 MFJ) that begins to phase out for taxpayers with modified AGI above $150,000 ($300,000 MFJ)
No tax on qualified car loan interest	Allows a deduction of up to $10,000 for qualified passenger vehicle interest paid during the 2025 through 2028 tax years on loans incurred (including refinancing) after 2024. Deduction phases out for taxpayers with modified AGI above $100,000 ($200,000 MFJ)
Student loan interest	Permanently extends COD exclusion for student loans forgiven due to student’s death or disability. American Rescue Plan Act full exclusion of student loan forgiveness sunsets at end of 2025 tax year
Other TCJA individual provisions such as: • $750,000 mortgage interest deduction cap; • Suspension of 2% miscellaneous itemized deductions; • Personal casualty losses limited to casualty gains, except for federal disasters; • Increased AMT exemption and phase-out thresholds; • Elimination of moving expense deduction other than for military; and • Limiting professional gambler’s losses	These provisions are permanently extended with modifications that:• Treat mortgage insurance premiums as acquisition indebtedness• Exclude educator expenses from 2% miscellaneous itemized deductions• Limit gambling losses to 90% of gambling gains starting 2026
IRC §199A qualified business income deduction	Makes the 20% deduction permanent, increases the phase-out range by $25,000 ($50,000 for MFJ), and provides a minimum $400 deduction for small business owners
IRC §1202 small business stock exclusion	Allows partial exclusion (50% if held 3 years, 75% if held 4 years), raises gain cap to $15 million and asset test to $75 million
IRC §529 plans	Allows tax-free distributions for qualified credential programs and additional K–12 education expenses
Trump accounts	Creates new IRA-like “Trump accounts” for children born 2025–2028, seeded with $1,000 and allows annual contributions up to $5,000
Credit for scholarship contributions	Starting 2027, provides up to $1,700 credit in lieu of §170 deduction for donations to qualified scholarship-granting organizations (state-listed)
Estate and gift tax exclusion	Resets unified exclusion to $15 million (per taxpayer) starting 2026, adjusted for inflation
Business tax provisions
Bonus depreciation (general)	Permanently extends 100% bonus depreciation for property acquired after Jan. 19, 2025; election for lower rates in first taxable year ending after that date
Bonus depreciation (production property)	Creates new class of bonus-eligible nonresidential property used in manufacturing, agriculture, chemicals, or refining (construction: 1/19/25–12/31/28, placed in service: 7/4/25–12/31/30)
IRC §179 expensing	Raises limit to $2.5 million, phaseout at $4 million, indexed for inflation from 2026
Research expenditures	Reinstates expensing for domestic §174 expenses starting 2025; retroactive relief to 2022 for small taxpayers
Business interest limitation	Restores exclusion of depreciation/amortization for ATI calculations starting 2025
Corporate charitable contributions	Subject to 1% floor beginning after 12/31/25
Employee Retention Credit	Disallows claims for wages paid after 6/30/25 unless processed by 7/4/25
Employer-Provided Child Care Credit	Raises credit to 40%, cap to $500,000 (or $600,000 for small businesses), starting after 2025
Paid Family and Medical Leave Credit	Permanently extended; election allowed to base on insurance premiums rather than wages
Energy credits and incentives
§25E, §30D, §45W clean vehicle credits	Repealed for vehicles acquired after 9/30/25
§30C alt. fuel property credit	Repealed after 6/30/26
§25C energy home improvements	Repealed after 12/31/25
§25D residential clean energy	Repealed for expenditures after 12/31/25
§45L new energy efficient homes	Repealed for homes acquired after 6/30/26
§45E / §45Y clean electricity	Repealed for wind/solar in service post–2027 (unless construction begins before 7/4/26); restrictions for foreign suppliers apply after 12/31/25; no credit if leased after 7/4/25
Information reporting
1099-K threshold	Raised to $20,000 and 200+ transactions
1099-NEC / 1099-MISC threshold	Raised to $2,000 (from $600), indexed after 2026

CHRONOLOGICAL PROVISIONS OF OBBBA

Change Made	Citation
Third-party settlement organizations don’t have to issue Forms 1099-K to a taxpayer unless the taxpayer earned more than $20,000 and had more than 200 separate transactions during the calendar year	OBBBA §70432; IRC §6050W(e)
TCJA tax rates and brackets made permanent	OBBBA §70101; IRC §1(j)
Increased standard deduction amounts (with minor modification)	OBBBA §70102; IRC §63(c)(7)
Increased AMT exemption amounts, including its annual inflation adjustments (except as noted below)	OBBBA §70107; IRC §55(d)
Charitable contribution 60% cap for cash contributions	OBBBA §70425(b); IRC §170(b)(1)(G)
$750,000 mortgage interest cap and elimination of home equity interest deduction	OBBBA §70108; IRC §163(h)(3)(F)
Gambling loss limitations	OBBBA §70114; IRC §165(d)
20% IRC §199A qualified business income deduction	OBBBA §70105; IRC §199A
COD exclusion for student loan forgiveness due to death/disability	OBBBA §70119; IRC §108(f)(5)
Expansion of employer educational assistance to include student loans	OBBBA §70412; IRC §127(c)(1)(B)
Combat zone tax relief expanded	OBBBA §70118; P.L. 115-97 §11026
Elimination of 2% miscellaneous itemized deductions	OBBBA §70110(a); IRC §67(g)
Personal casualty losses limited to casualty gains, except for federally declared disasters	OBBBA §70109; IRC §163(h)(5)
Excess business loss limitation for noncorporate taxpayers	OBBBA §70601; IRC §461(l)
Moving expense deduction eliminated (except for military)	OBBBA §70113; IRC §§132(g), 217(k)
Beneficiaries allowed to contribute to ABLE accounts	OBBBA §70115; IRC §529A(b)(2)(B)
529 rollovers to ABLE accounts allowed	OBBBA §70117; IRC §529(c)(3)(C)(i)(III)
Bicycle commuting exclusion eliminated	OBBBA §70112; IRC §132(f)
Child Tax Credit increased to $2,200	OBBBA §70104; IRC §24(h)
Estate and gift tax exclusion raised to $15M	OBBBA §70106; IRC §2010(c)(3)
IRC §45S Paid Family and Medical Leave Credit made permanent	OBBBA §70304; IRC §45S

Change Made	Citation
Previously Owned Clean Vehicle Credit repealed for vehicles acquired after September 30, 2025	OBBBA §70501; IRC §25E(g)
Clean Vehicle Credit repealed for vehicles acquired after September 30, 2025	OBBBA §70502; IRC §30D(h)
Qualified Commercial Clean Vehicle Credit repealed for vehicles acquired after September 30, 2025	OBBBA §70503; IRC §45W(g)
Increase in standard deduction amount	OBBBA §70102; IRC §63(c)(7)
Senior personal exemption deduction of $6,000 per spouse age 65+ (2025–2028 only)	OBBBA §70103(a)(3); IRC §151(d)(5)(C)
SALT limitation increased to $40,000 and increases 1% annually through 2029; reverts in 2030	OBBBA §70120; IRC §164(b)(6)
Extension of disaster relief provisions (TCDTRA and FDTRA)	OBBBA §70438
“No tax” on tips deduction (capped at $25,000), for 2025–2028	OBBBA §70201; IRC §§63(b)(5), 224
“No tax” on overtime deduction (capped at $12,500/$25,000 MFJ), for 2025–2028	OBBBA §70202; IRC §§63(b)(6), 225
Deduction for interest on post-2024 passenger vehicle loans (2025–2028)	OBBBA §70203; IRC §§63(b)(7), 163(h)(4)
§1202 small business stock exclusion expanded and gain cap increased	OBBBA §70431; IRC §1202
§529 distributions allowed for more K–12 and credentialing expenses	OBBBA §70413, 70414; IRC §529(c)(7), (f)(1)
CTC increased to $2,200; SSNs required	OBBBA §70104; IRC §24(h)
$5,000 of Adoption Credit made refundable; tribal governments recognized	OBBBA §§70402, 70403; IRC §23
Repeals 5-year recovery period for energy property	OBBBA §70509; IRC §168(e)(3)(B)(vi)
100% bonus depreciation extended (option for 40% election)	OBBBA §70301; IRC §168(k)(10)
Sound recording production costs eligible for 100% bonus depreciation	OBBBA §70434(g); IRC §168(k)(2)(A)(i)(VI), §181
New §168(n) allows elective 100% bonus depreciation for qualified production property	OBBBA §168(n); IRC §168(n)
§179 expensing limit increased to $2.5M; phaseout to $4M	OBBBA §70306; IRC §179
Exclusion of depreciation/amortization in ATI calc for business interest	OBBBA §70303; IRC §163(j)(8)(A)(v)
§174 full expensing for domestic research, retroactive option for small taxpayers	OBBBA §70302(a)(f); IRC §174A
No ERC claim/refund after July 4, 2025 (post–6/30/21 wages) + penalties	OBBBA §§70605; IRC §§3134(l), 6676(a)
Expands FICA Tip Credit to beauty service businesses	OBBBA §70201(e); IRC §45B(b)(2)

Change Made	Citation
Exclude from gross income 25% of interest income from qualified agricultural real estate loans	OBBBA §70435; IRC §139L
Clarifies the application of the partnership disguised sale statute	OBBBA §70602; IRC §707(a)(2)
Raises 1099-MISC and 1099-NEC filing thresholds to $2,000	OBBBA §70433; IRC §6041
Allows installment method reporting for qualified farmland property sales	OBBBA §70437; IRC §1062
Exempts certain residential construction contracts from percentage-of-completion method	OBBBA §70430; IRC §460(e)(1)(B)(i)
Millionaires can no longer claim unemployment benefits	OBBBA §73001
Alternative Fuel Vehicle Refueling Property Credit repealed after June 30, 2026	OBBBA §70504; IRC §30C(i)
Energy Efficient Commercial Buildings Deduction repealed after June 30, 2026	OBBBA §70507; IRC §179D(i)
New Energy Efficient Home Credit repealed for homes acquired after June 30, 2026	OBBBA §70508; IRC §45L(h)
Resets AMT exemption amount for MFJ to $1M (2018 level) and increases phaseout rate	OBBBA §70107; IRC §55(d)
Intelligence community may deduct/exclude moving expenses	OBBBA §70113; IRC §§132(g), 217(k)
Charitable deduction AGI floor of 0.5% for itemizers	OBBBA §70425; IRC §170(b)(1)
$1,000/$2,000 charitable deduction for non-itemizers (2025–2028)	OBBBA §70424; IRC §170(p)
Charitable deduction for whaling captains raised from $10K to $50K	OBBBA §70429; IRC §170(n)(1)
Casualty losses for state-declared disasters allowed	OBBBA §70109(b); IRC §165(h)(5)
Mortgage insurance treated as deductible mortgage interest	OBBBA §70108; IRC §163(h)(3)(F)
Educator expenses treated as non–2% misc deductions	OBBBA §70110; IRC §67(b)(13), (g)
Gambling losses deductible up to 90% of gains	OBBBA §70114; IRC §165(d)
Itemized deduction benefit capped at 35% for top bracket	OBBBA §70111; IRC §68
IRC §199A phaseout range increased; $400 minimum deduction	OBBBA §70105; IRC §199A
Student loan COD exclusion sunsets (ARPA provision not renewed)	OBBBA §70119; IRC §108(f)(5)
Employer-provided dependent care assistance exclusion raised to $7,500	OBBBA §70404; IRC §129(a)(2)(A)

Change Made	Citation
Expands military tax relief by redefining “qualified hazardous duty area”	OBBBA §70118; P.L. 115-97 §11026
Creates Trump Accounts for children under 18 funded with $1,000	OBBBA §70204; IRC §530A
Excludes up to $2,500 in employer Trump Account contributions	OBBBA §70204(b); IRC §128
Raises 529 limit for K–12 withdrawals from $10,000 to $20,000	OBBBA §70413(b); IRC §529(e)(3)
$2,200 CTC indexed for inflation	OBBBA §70104(c); IRC §24(i)
Child and Dependent Care Credit increased to 50%; phased out at $75K/$150K	OBBBA §70405; IRC §21(a)
Requires SSNs for both taxpayer and child to claim AOTC/LLC and school EIN for AOTC	OBBBA §70606; IRC §25A(g)(1)
Premium Tax Credit subsidies sunset for those over 400% FPL	IRC §36B(3)(A)
Recapture of excess PTC no longer capped under 400% FPL	OBBBA §71305; IRC §36B(f)(2)
Lawfully present aliens ineligible for Medicaid also ineligible for PTC	OBBBA §71302; IRC §36B(c)(1)
ABLE account contributions eligible for Saver’s Credit	OBBBA §70116; IRC §25B(d)(1)
Energy Efficient Home Improvement Credit repealed after 2025	OBBBA §70505; IRC §25C(h)
Residential Clean Energy Credit repealed after 2025	OBBBA §70506; IRC §25D(h)
Adjusts §179 expensing threshold/inflation	OBBBA §70306; IRC §179
Limits deductibility of employer-provided meals to specific industries	OBBBA §70305; IRC §274(n), (o)
1% floor on corporate charitable contributions	OBBBA §70426; IRC §170(b)(2)(A)
Interest limitation calculated before capitalization rules	OBBBA §70341; IRC §163(j)
PFML Credit can be based on premiums, not just wages	OBBBA §70304; IRC §45S
Increases Employer Child Care Credit to 40% (50% for small biz); raises cap to $500K/$600K	OBBBA §70401; IRC §45F
Increases state housing credit allocation by 12%; lowers bond-financing threshold	OBBBA §70422; IRC §42
New Markets Tax Credit permanently extended	OBBBA §70423; IRC §45D
REIT asset test increased from 20% to 25%	OBBBA §70439; IRC §856(c)(4)(B)(ii)

Change Made	Citation
$15M gain cap and $75M gross asset test under §1202 indexed for inflation (starting 2027)	OBBBA §70431(b)(c); IRC §1202(b)(1), (d)(1)
$5,250 employer education assistance exclusion indexed for inflation	OBBBA §70412(b); IRC §127(d)
Up to $1,700 charitable credit for donations to scholarship-granting orgs	OBBBA §70411; IRC §25F
Exclusion of scholarships for eligible K–12 dependents	OBBBA §70411(b); IRC §139K
PTC not available to lawfully present individuals unless “eligible aliens”	OBBBA §71301(a); IRC §36B(e)(1)
Repeals SECURE 2.0 Saver’s Credit match; retains credit for ABLE account contributions	OBBBA §70116; IRC §25B(d)(1)
Qualified Opportunity Zone (QOZ) updates:• Gain deferral election extended indefinitely• Recognized gain timing/amount clarified• Basis step-up: 10% at 5 years (30% for rural QOZs)• Only first 30 years of gain excluded	OBBBA §70421(c); IRC §1400Z-2
Employer-Provided Child Care Credit annual cap indexed for inflation	OBBBA §70401; IRC §45F
Trump Account $5,000 contribution and $2,500 exclusion limits indexed for inflation (starting 2028)	OBBBA §70204; IRC §128, §530A
Pre-enrollment verification required for APTC eligibility via exchanges	OBBBA §71303; IRC §36B(c)
§48E and §45Y Clean Electricity Credits repealed post-2027 for facilities placed in service after 2027 and started after 7/4/2026 (wind/solar only)	OBBBA §§70512, 70513; IRC §§45Y, 48E
$6,000 senior exemption sunsets (2030)	OBBBA §70103(a)(3); IRC §151(d)(5)(C)
Non-itemizer charitable deduction sunsets (2030)	OBBBA §70424; IRC §170(p)
No-tax-on-tips deduction sunsets (2030)	OBBBA §70201; IRC §§63(b)(5), 224
No-tax-on-overtime deduction sunsets (2030)	OBBBA §70202; IRC §§63(b)(6), 225
Car loan interest deduction sunsets (2030)	OBBBA §70203; IRC §§63(b)(7), 163(h)(4)
SALT cap reverts to $10,000 ($5,000 MFS) in 2030	OBBBA §70120; IRC §164(b)(6)

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