Forward Thinking
Search
10.01.25
IRS Releases Guidance on Changes to R&E Expensing
Among its numerous tax provisions, the One Big Beautiful Bill Act (OBBBA) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued transitional guidance (Revenue Procedure 2025-28) on how this change will be implemented. This transitional guidance addresses several critical issues. Here is what businesses of all sizes need to know.
08.25.25
How Will the Changes to the SALT Deduction Affect Your Tax Planning?
As part of recent legislative changes, several clean energy tax incentives established or expanded by the Inflation Reduction Act (IRA) are being modified or phased out with the passage of the One, Big, Beautiful Bill Act (OBBBA). Below is an overview of the adjustments and eliminations affecting both individuals and businesses regarding clean energy tax incentives under the OBBBA.
08.11.25
ORBA Ranked as a 2025 Top 200 Firm by INSIDE Public Accounting
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, has once again been recognized as a 2025 IPA Top 200 Firm by INSIDE Public Accounting (IPA). This marks the eleventh time since 2013 that ORBA has made the list of the country’s top firms. In the IPA’s annual report, ORBA is ranked #113, climbing five spots higher than last year, and is the highest ranked of the six Illinois firms on the Top 200 list.
08.07.25
The OBBBA Will Soon Modify or Eliminate Certain Clean Energy Tax Incentives
As part of recent legislative changes, several clean energy tax incentives established or expanded by the Inflation Reduction Act (IRA) are being modified or phased out with the passage of the One, Big, Beautiful Bill Act (OBBBA). Below is an overview of the adjustments and eliminations affecting both individuals and businesses regarding clean energy tax incentives under the OBBBA.
08.06.25
What Taxpayers Need to Know About the IRS Ending Paper Checks
The federal government has announced a major change that will affect how numerous Americans receive their tax refunds and federal benefit payments. The U.S. Treasury Department, the IRS and the Social Security Administration (SSA) will soon stop issuing paper checks. This transition is designed to increase efficiency, reduce fraud, reduce the occurrence of lost or stolen checks, and lower administrative costs — but it also means that taxpayers must prepare for an all-electronic system.
07.31.25
The OBBBA Shifts the Landscape for Employers
The sweeping budget reconciliation law known as the One Big Beautiful Bill Act (OBBBA) includes numerous provisions affecting employers and their workers. The new tax treatment of tips and overtime have grabbed much of the attention, but changes to employer tax credits — some of them potentially lucrative — also deserve your attention.
07.29.25
The One, Big, Beautiful Bill Act Extends Many Business-Friendly Tax Provisions
The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are likely to impact your tax planning. Here are several provisions included in the new law that may influence your business’s tax liability.
07.23.25
How Will the One, Big, Beautiful Bill Act Affect Individual Taxpayers?
The One, Big, Beautiful Bill Act (OBBBA) includes, among many other things, numerous provisions that can affect an individual’s taxes. The new law makes some changes to existing tax breaks that will be significant to many taxpayers. Read the full Client Alert for details.
07.08.25
President Trump Signs His One, Big, Beautiful Bill Act into Law
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) as well as new and enhanced tax breaks. Here is a rundown of some of the key changes affecting individual and business taxpayers.
06.30.25
ORBA Welcomes New Hires to the Firm
CHICAGO — ORBA, one of Chicago’s largest public accounting firms, is pleased to welcome five professionals to the firm’s Audit, Marketing, Tax and Transaction Advisory Groups.
