Drake Tax - New Tax Bill

Article #: 18889

Last Updated: November 04, 2025

Tags: Drake TaxOBBB OBBBA H.R.1. One Big Beautiful Bill Act OB3

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The new tax bill was signed into law on July 4, 2025. The IRS has provided preliminary information about some of the provisions that will take effect in 2025. This article will be updated with more information about the impact on Drake Tax 2025 as details are finalized.

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Note This new tax bill, was signed into law on July 4, 2025. The One Big Beautiful Bill Act (OBBB or OB3) is now also being referred to by lawmakers as the Working Families Tax Cut Act. You may see one or both names used, but they refer to the same set of tax changes.