The OBBBA enacted July 4, 2005, made just over 100 changes to the federal tax law. These provisions have a range of effective dates as well as relevance to compliance and tax planning. The IRS guidance process has produced a good deal of notices, FAQs, and regulations to be aware of and there is more to come over the next few years. This webinar covers the rules first effective for 2026, guidance issued by the IRS for individuals and small to medium-sized businesses, planning considerations, and tips for dealing with significant tax law changes.
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Who Should Attend
Anyone preparing individual and business returns for 2026 and engaged in planning assistance for 2027 and beyond.
Topics Covered
- Review of effective dates of OBBBA provisions
- IRS guidance to date on all OBBBA provisions
- Review of guidance most relevant in preparing 2026 returns
- Tips for planning for 2027 and beyond
- Due diligence considerations for dealing with numerous new rules and over 75 new terms added to the law
Learning Objectives
- Identify provisions first effective for 2026 returns and provisions effective after 2026
- Describe key OBBBA provisions affecting compliance and planning for individuals and small businesses
- Apply IRS guidance on the tip, overtime, senior and vehicle loan interest for 2025 through 2028, Trump account set up and effective utilization, changed itemized deductions, QOZ investments, and other changes for individuals
- Apply IRS guidance on bonus depreciation, R&D expenditures, Trump account employee benefit program for employers, and other items affecting small to medium-sized businesses
- Describe OBBBA guidance still needed
- Describe key compliance and planning tips to best utilize the OBBBA changes
Level
Update
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of tax preparation and policies
Advance Preparation
None
Instructor
Annette Nellen
Annette Nellen, CPA, CGMA, Esq., is a professor at San Jose State University. Her courses include tax research, taxation of property transactions, taxation for accounting majors, and financial accounting.
Annette chairs the AICPA Digital Asset Tax Task Force and is a member of the AICPA SALT Committee. She formerly served on the AICPA Tax Executive Committee, including 2 ½ years as chair. In 2023 she was appointed to the IRS Advisory Council (IRSAC) and served as the IRSAC chair for 2024 and was reappointed for a 4th year. Annette is the recipient of the 2013 Arthur J. Dixon Memorial Award given by the Tax Division of the AICPA, the highest award given by the accounting profession in the area of taxation. In June 2023, she was awarded the Sid Kess Award for Excellence in Continuing Education. She is the recipient of the 2026 CalCPA Distinguished Service Award. Annette was named one of the Top 100 Most Influential People in Accounting for 2024 and 2025 by Accounting Today.
Annette is a regular contributor to Tax Notes State, and is the author of Bloomberg Tax Portfolio #533, Amortization of Intangibles. She is co-author and co-editor of four tax textbooks from Cengage. Annette has testified before the House Ways & Means Committee, Senate Finance Committee, California Assembly Revenue & Taxation Committee, and tax reform commissions and committees on various aspects of federal and state tax reform. She maintains the 21st Century Taxation website and blog (www.21stcenturytaxation.com). Prior to joining SJSU in 1990, Annette was with EY and the IRS.