OB3 - The S Corporation Association

Tax Day Headlines Miss the Full Story

Recent news coverage suggests that the Working Families Tax Cut Act was a bust. Here’s Politico’s Bernie Becker when asked if this tax filing season has lived up to expectations:

The short answer is no… it wasn’t just one person promising $1,000. It was a key line they said over and over again. When you get refunds a third of the way there, there’s no way to suggest anything but that they overpromised.

But the promise of tax savings was not limited to refunds – it also included lower tax payments to close out 2025 and lower taxes paid through withholding …

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admin2026-04-24T09:41:04+00:00April 24, 2026|

OB3 Refund Story Includes Main Street

In October we chatted with Piper Sandler’s Don Schneider to preview what the One Big Beautiful Bill would mean for tax season. Don forecast one of the largest refund seasons in history, with the typical refund level expected to grow by nearly $100 billion.

Now the firm is out with new analysis confirming those predictions. It also details how Main Street businesses can expect to benefit.

Based on the latest numbers, Main Street business owners will receive an estimated $27 billion in additional tax refunds during the 2026 filing season. These immediate savings stem from the restored bonus depreciation, immediate expensing, …

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admin2026-02-06T18:23:47+00:00February 6, 2026|

Tax Cuts Don’t Sell Themselves (But Big Refunds Help)

As tax season progresses, supporters of the Working Families Tax Relief Act are highlighting the provisions that made it possible.

That’s good news because tax cuts don’t sell themselves. As our friend David Winston pointed out in a recent op-ed, convincing Americans they benefited from tax legislation is often harder than passing it in the first place. Absent a concerted effort, the big refunds that are set to hit bank accounts in the months ahead won’t be connected back to the tax bill passed last summer.

Just to be clear – there’s lots to sell. Tax filing season is officially …

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admin2026-01-28T17:17:16+00:00January 28, 2026|

The Big Winners in OB3 (Part 2)

Tuesday’s election results underscore the importance of redoubling efforts to help voters understand the benefits delivered to them by the One Big Beautiful Bill (OB3).

It’s not like we don’t have lots to work with here. For example, our friends at EY recently broke out revenue estimates of the bill’s major provisions in a Tax Notes article. Their findings support S-Corp’s observation that most of OB3’s benefits went to middle-income families and family-owned businesses engaged in traditional Main Street industries.

Here’s the report:

Of the estimated net $4.5 trillion decrease in taxes from 2025-2034, this analysis estimates that OBBBA provisions will …

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admin2025-11-06T16:59:54+00:00November 6, 2025|

The Big Winners in OB3

For the Main Street business community, the benefits of the One Big Beautiful Bill (OB3) are clear – the bill kept our tax rates low, made permanent the 20-percent small business deduction, and retained full deductions for the state and local taxes we pay on our pass-through business income.

Cumulatively, these provisions will save pass-through business owners more than $100 billion a year. That’s real money they can invest right now in new equipment, new workers, and higher wages.

The case for family tax relief in OB3 is just as strong. As we’ve noted, provisions benefitting middle-income families – including the …

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admin2025-10-16T18:46:57+00:00October 16, 2025|