What exactly has changed with the new tax bill referred to as the One Big Beautiful Bill? The bill passed into law effective for tax year 2025 contains significant tax updates: It permanently extends the Tax Cuts and Jobs Act (TCJA), increases the SALT deduction cap, makes cuts to energy credits, and changes how tips and overtime are taxed for some workers.
Our infographic provides a visual snapshot of these changes to get ahead of your tax filing and financial plans.
Want to see how these changes impact your taxes? Take the next step with our Tax Reform Calculator to estimate your potential tax savings and get a personalized understanding of the new tax law.
TurboTax is here to help you navigate the new tax law changes and maximize your refund. We’ve got you covered, whether you want to do your taxes yourself or have a TurboTax Live expert do them for you.
