Designed for experienced CPAs and accountants navigating the evolving landscape of individual taxation, this session will delve into significant tax updates, crucial judicial decisions and recent IRS guidance that extend beyond the direct legislative text of the One Big Beautiful Bill Act.
DESIGNED FOR
CPAs in public practice and industry who advise individuals and closely held businesses on tax matters
BENEFITS
- Gain essential insights into complex areas of tax law in order to effectively advise clients or your company on current compliance and planning strategies.
- Enhance your understanding of critical developments that have emerged over the past year.
HIGHLIGHTS
Key items covered in this session include:
- The criteria for deducting theft losses under IRC Section 165 for victims of various scams, including the tax consequences of IRA distributions
- The Third Circuit ruling in Murrin v. Commissioner on the indefinite assessment period for fraudulent returns, specifically when fraud is committed by a tax preparer
- The deductibility of in vitro fertilization (IVF) and surrogacy expenses under IRC Section 213, distinguishing between deductible and non-deductible costs
- The Tax Court's analysis of portability election pitfalls and strict deceased spousal unused exclusion (DSUE) requirements, as illustrated in Estate of Rowland
- The Second Circuit’s decision on state charitable tax credit programs and their impact on federal deductibility under IRC § 170 following the overturning of Chevron deference
- Recent IRS guidance regarding new PIN reporting requirements for energy credits (§ 25C and § 25D) and the accelerated termination of various energy credits under OBBBA