This update-focused program delivers a comprehensive and practical summary of the most significant federal tax developments affecting individual taxpayers for the 2025 and early 2026 filing seasons. Participants will explore new cases, IRS guidance, cryptocurrency reporting rules, passive activity developments, and key provisions tied to the anticipated extension or sunset of the Tax Cuts and Jobs Act (TCJA).
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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
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.