Will We Get Final OBBBA Payment Guidance This Month?

USDA has 11 final rules pending with OMB

Photo by Darla Hueske on Unsplash

The One Big Beautiful Bill Act made material changes to payment limitations for S corporations and any limited liability entity such as an LLC. However, we have been waiting on this guidance for many months, and it has been communicated to us that the guidance should be coming soon, but what does that mean.

This guidance will come in the form of a Final Rule and that is currently being reviewed with the Office of Management and Budget (OMB) and based on the dashboard at OMB, it is currently in the status of “pending review”.

We thought that we would have final guidance by the end of May, but it may slip into June. Here is a snippet of the dashboard related to this topic:

Once the Final Rule is released, we will provide our immediate feedback on the rule with further details as we review it more thoroughly.