Accounting for One Big Beautiful Bill under IFRS

This article explores International Financial Reporting Standards accounting for the key provisions affecting businesses under the Trump Administration’s ‘One Big Beautiful Bill’.

H.R. 1 – the budget reconciliation bill known as the 'One Big Beautiful Bill' (the bill or OBBB) – provides sweeping tax law changes, including making many of the income tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) permanent. It also includes reforms to the United States (US) international tax regime and various revenue-raising measures, such as the phase-out of certain energy tax credits. The provisions within the bill are complex and may affect current and deferre...

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Published Date: 18 September 2025