Here's a look at whether you should be delighted or worried about the bill. (Spoiler: You may want to put away the confetti and noisemakers.)

On July 4, 2025, legislation known as the "One Big Beautiful Bill" was signed into law. Learn about the 2025 tax changes here.

Workers who pick up extra shifts may now qualify for temporary relief on their overtime pay. From 2025 through 2028, single filers can deduct up to $12,500 of overtime pay, and married couples filing jointly can deduct up to $25,000.