2027 Individual Federal Tax Update (Half-Day Webinar)

Who Should Attend
This course is designed for tax professionals who prepare or review individual federal income tax returns or advise clients on year‑round planning.

Topics Covered

• Important changes in the IRS’s policy for “first time penalty abatement”
• The IRS’s new interpretation of when an extension of an individual return is invalid, due to inadequate estimates of tax due
• Computing prior-year deferred gain on client investments in qualified opportunity funds (this is required for some clients on December 31, 2026)
• New guidance in the 100% charitable contributions credit allowed for certain scholarship granting organizations
• New 2026 limits on charitable contributions and overall itemized deductions
• Identify new inflation adjustments that will apply to 2026 tax returns
• Auditors are using AI in IRS audits

Learning Objectives

• Recognize important changes in the IRS’s policy for “first time abatement” for penalties.
• Recognize a significant change in the IRS interpretation of when an extension of an individual return is invalid, due to inadequate estimates of tax due.
• Learn how to compute prior-year deferred gain on client investments in qualified opportunity funds (this is required for some clients on December 31, 2026).
• Identify new guidance in the 100% charitable contributions credit allowed for certain scholarship granting organizations.
• Recognize a significant change in IRS audits – some auditors are using AI to write up audit reports.

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
Some background in Federal tax.

Advance Preparation
None