KPMG report: Exempt organization provisions in “One Big Beautiful Bill” as signed into law

Analysis and observations regarding the provisions in the legislation related to tax-exempt organizations

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July 6, 2025

The House of Representatives on May 22, 2025, passed H.R. 1 (House bill), the budget reconciliation bill known as the “One Big Beautiful Bill” (read TaxNewsFlash). On July 1, 2025, the Senate passed its version of H.R. 1 (Senate bill), which made various amendments to the bill, including changes to the tax subtitle that was included in the House bill (read TaxNewsFlash). On July 3, 2025, the House passed the Senate bill without amendment, and the bill was signed into law by President Trump on July 4, 2025.

Read a July 2025 report prepared by KPMG LLP that provides analysis and observations regarding the provisions in the legislation related to tax-exempt organizations.


For more information, contact your usual KPMG tax professional or one of the following Washington National Tax professionals:

Ruth Madrigal | ruthmadrigal@kpmg.com

Preston Quesenberry | pquesenberry@kpmg.com

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