This course provides a comprehensive federal income tax update to help practitioners prepare for the 2027 filing season, with a focus on the 2026 Form 1040, related schedules, and key individual and business provisions of the One Big Beautiful Bill Act (OBBBA).
The session covers newly enacted legislation, recent regulations, significant court decisions, IRS notices, revenue procedures, and private letter rulings affecting individuals and businesses. Participants will also review SECURE 2.0 provisions effective in 2026 and key basis-compliance issues for partnerships and S corporations, including Schedule K-1 and Form 1040 reporting.
2026 business tax developments and OBBBA provisions
Section 179, cost recovery, and qualified production property
Domestic research and experimental expenditures and accounting method considerations
Section 163(j) business interest limitations and revised adjusted taxable income rules
Qualified Business Income deduction and pass-through considerations
Partnership, S corporation, C corporation, LLC, and Schedule C issues, including basis and loss limitations
Form 1099-K, information reporting, payroll, fringe benefits, and selected employment tax updates
Entity selection, owner compensation, distributions, year-end planning, and compliance issues
2026 Form 1040 and related schedule changes for the 2027 filing season
Schedule 1-A deductions for tips, overtime, passenger vehicle loan interest, and eligible seniors
Standard and itemized deductions, including SALT and charitable giving
Child Tax Credit, family and education-related credits, and selected health provisions
Self-employment, gig economy, QBI, and Form 1099-K considerations
Retirement contributions and distributions, investment income, and capital gains/losses
IRS reporting, substantiation, due diligence, withholding, estimated tax, and compliance updates
Common filing-season issues and planning opportunities
CPE Credit: 2.0 | Field: Taxes
Level: Basic | Prerequisites: None
Delivery: Group Internet Based | Location: Virtual/Online
IRS Course ID: SOUWG-U-00022-26-O
Duration: 2 Hours | Attendance: Required
Includes case studies, live Q&A with the speaker, and PowerPoint reference material
CPAs, Enrolled Agents, tax professionals, attorneys, tax preparers, finance professionals, and financial planners.
LIVE means you can attend the class in real time on the scheduled date and time.
The link to join the class will be shared with you 30 minutes to 1 hour before the class begins.
On-Demand means you can watch the recorded class at your convenience.
The link to access the class will be shared 48 hours after the commencement date of the live class.
You can let us know your preferred date to receive the link.
Note: Once the link is shared, you can access the class for three (3) days.
Web Download allows you to download the class recording for offline viewing.
The download link will be shared with you within 48 working hours after the commencement of the class.
An e-Transcript is a written text version of the entire class session.
It is useful for note-taking, revision, and quick reference.
The e-Transcript download link will be shared within 48 working hours after the commencement of the class.
This option includes: