The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, permanently extends the Qualified Opportunity Zone program, first enacted under the Tax Cuts and Jobs Act (TCJA) of 2017, with additional incentives, designation guidelines, and reporting requirements beginning January 1, 2027.

Andersen Managing Director Daniel Gespass’s article Pease Pease Me: The OBBBA's Revived Limitation on Itemized Deductions is featured in Tax Notes. In the article, Daniel examines whether the Pease limitation on itemized deductions, reinstated under the One Big Beautiful Bill Act (OBBBA) beginning in 2026, applies to the charitable income tax deduction for estates and trusts under Sec. 642(c). Daniel concludes that there is a strong argument that the Pease limitation does not apply. However, it is unclear at this point whether Treasury and IRS will adhere to this view, Daniel cautions. As a result, it will be important to watch for their stance on this issue in guidance.

Andersen Consulting expands its strategy and business transformation capabilities through a Collaboration Agreement with Skribble, a digital and brand consultancy supporting innovation and operational transformation for companies in Southeast Asia.

Andersen Global adds transaction advisory capabilities in Central Asia through a Collaboration Agreement with Bridge Factor, headquartered in Pakistan.

Andersen is pleased to welcome Thomas Quek and Manny Trelles as managing directors, enhancing the firm’s real estate capabilities across its tax and transaction advisory practices. Both bring extensive experience serving clients in the domestic and international real estate and private equity sectors, with a strategic approach to complex tax matters.

Founded in Buenos Aires, Ignis has earned a reputation for helping organizations build and achieve their brand objectives.

Starting in 2026, employers will no longer be able to take a tax deduction for the cost of providing an on-site eating facility to employees. The rule was enacted back in 2017 under the Tax Cuts and Jobs Act (TCJA), but with a delayed effective date until 2026. The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, carves out some niche exceptions to this restriction, but most employers will be hit by this limitation.

Ventures Middle East delivers comprehensive services across transaction advisory, strategy and transformation, and organizational excellence.

Andersen Consulting further strengthens its digital transformation capabilities with Liberty IT, a leading provider of enterprise-grade digital transformation in financial services.