Diane P. Smith Tax Service

The One, Big, Beautiful Bill Act significantly affects federal taxes, credits and deductions. It was signed into law on July 4, 2025, as Public Law 119-21. The following sections outline tax provisions for individuals and workers under the One, Big, Beautiful Bill, including available resources. On this page Tax inflation adjustments Deduction for seniors No tax on tips No tax on overtime No tax on car loan interest Tax inflation adjustments (Sections 70101, 70102, 70106, 70