Stay ahead of the curve with our comprehensive 2025 tax bill update. Explore the latest on crucial tax items, where each provision stands in Congress, and the next steps in the legislative process. Whether you’re a CPA, EA, or financial professional, our AI tax research and AI tax planning tools ensure you’re always up to date. Read on for a detailed breakdown—and see how agentic AI in tax can help you and your clients stay compliant and proactive. Ready to future-proof your tax strategies? Try our AI-powered tax tools today!
One Big Beautiful Bill Act (OBBBA) Weekly Update – June 23, 2025
| Tax Provision | Description | Current Status | Next Step |
| Individual Tax Rate Sunset (TCJA) | Reversion of tax brackets to pre-2017 levels unless extended. | Pending in Senate Finance Committee | CBO scoring in progress; vote expected mid-July |
| Standard Deduction Adjustment | Proposal to increase standard deduction by 15% across all filers. | Approved by House Ways & Means Committee | Heading to full House vote |
| Child Tax Credit Expansion | Increase CTC to $3,600 per child under 6 and $3,000 for others; partial refundability proposed. | House version passed | Senate negotiation underway |
| Capital Gains Tax Thresholds | Raise capital gains inclusion threshold for high-income earners (>$1M). | Under debate in Joint Committee | Awaiting revised scoring and amendment markup |
| Estate and Gift Tax Exemption Rollback | Proposed rollback to 2010 levels ($5M per individual, inflation-adjusted). | Introduced in House | Public hearings scheduled for early July |
| Pass-Through Deduction (199A) Sunset | Repeal or extend 20% deduction for qualified business income. | Divided in Senate committee | Potential amendment in broader reconciliation |
| Corporate Tax Rate Increase | Proposed increase from 21% to 25%. | Senate Finance subcommittee hearings | Economic impact analysis expected next week |
| IRS Enforcement Budget | $20B additional funding over 10 years to expand audits and AI enforcement capabilities. | Included in House budget package | Consolidated markup session scheduled |
| Energy Tax Credits Expansion | Extended and increased 45L and 25C credits, including electric vehicles and energy-efficient homes | Passed House, pending in Senate | Likely bundled into broader budget legislation |
| Crypto Tax Reporting Enhancements | Clarifies broker rules and expands 1099-DA requirements; wallet-by-wallet basis upheld. | Passed Senate | Reconciliation with House version in committee |
Sources:
- Congressional Budget Office (CBO)
- House Ways and Means Committee
- Senate Finance Committee
- Joint Committee on Taxation
💡 How to Stay Ahead with AI Tax Tools
Tax changes like these can create planning opportunities—or landmines. Here’s how to stay proactive:
- Use an AI Tax Research Tool to track the latest bill versions, committee memos, and tax code updates.
- Leverage an AI Tax Planning Tool to simulate how proposed rates or deductions impact clients’ multi-year tax projections.
- Explore Agentic AI in Tax workflows to automatically flag clients affected by estate or pass-through income changes.
Stay Ahead: How Agentic AI in Tax Can Help
With agentic AI in tax, professionals can quickly adapt to new regulations, automate compliance, and deliver year-round advisory services. Our AI tax tools are designed to provide instant, citation-backed answers and dynamic tax planning as the legislative landscape evolves.
Don’t wait until the bill becomes law—leverage our AI tax solutions to safeguard your clients and your practice. Request a demo today!