Surgent's Federal Tax Camp -Virtual

Overview

Tax practitioners have been hard-pressed to keep up with recent legislation and new IRS guidance. In this course, tax advisors will be fully updated on the most important legislative and regulatory developments of the season, as well as major trends and changes in the case law, with a view toward planning considerations. This course is continually updated to reflect enacted legislation.

Highlights

Comprehensive coverage of individual provisions of the One Big Beautiful Bill Act, including but not limited to:

• TCJA provisions made permanent, including lower marginal tax rates, expanded standard deduction, and the increased child tax credit
• New Tip Income Deduction of up to $25,000 for individuals in customarily tipped occupations, including updated final regulations (TD 10044)
• New Overtime Pay Deduction of up to $12,500 ($25,000 MFJ) for FLSA-eligible employees on qualifying overtime pay
• New Car Loan Interest Deduction of up to $10,000 annually for interest on qualifying new U.S. assembled vehicle loans
• New Temporary Senior Deduction of $6,000 for taxpayers aged 65 and older ($12,000 for MFJ whereboth spouses qualify)
• Expanded SALT Cap of up to $40,000 through tax year 2029
• Trump Accounts, a new savings vehicle for minors, including new 2026 guidance on contribution rules, basistracking, and the pilot program

Business provisions of the OBBBA, including but not limited to:: 

• Permanent 100% bonus depreciation, including new Qualified Production Property (QPP) provisions
• Increased §179 Expensing Limit
• Changes to §174 R&E Expenditures, including restoration of immediate expenses 
• Changes to §163(j) and new election withdrawal opportunities under Rev. Proc. 2026-17 
• Form 1099/1099-K changes, including increased reporting thresholds 
• Qualified Small Business Stock (QSBS) Exclusion changes

New 2026 information returns and form changes, including a full walkthrough of:

• Schedule 1-A (Form 1040): tracing the tip, overtime, vehicle interest, and senior deductions to their source
• New Forms 1098-VLI (vehicle loan interest), 5498-TA (Trump Account contributions), and 1099-LPS (long-term care distributions)
• Revised Forms W-2, 1099-NEC, 1099-MISC, and 1099-K

Charitable giving after the OBBBA:

• New 0.5% AGI floor on itemized charitable contributions, the statutory ordering rule, and carryforward mechanics
• Interaction of the new limitation on the value of itemized deductions with the charitable floor
• Bunching strategies and donor-advised funds as a continuing planning response
• New charitable contribution deduction for non-itemizers
• Qualified Charitable Distributions (QCDs) as a strategy unaffected by the new floor
• Substantiation rules

Digital Assets & Tax implications: understanding covered vs. noncovered securities and the second phase of brokerbasis reporting on Form 1099-DA
Retirement Plan Developments: SECURE 2.0 catch-up contribution rules taking effect in 2026, including mandatoryRoth treatment for certain higher-paid participants
IRS Administration and Compliance Developments
Timely coverage of breaking tax legislation
Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more
Advanced practice and reporting issues, along with related planning ideas and discussion topics

Prerequisites

Experience with individual and business clients

Designed For

CPAs who need to know the latest tax law changes in all areas of practice, whether newly licensed or a seasoned professional

Objectives

• Understand the latest tax law changes
• Understand strategies and techniques for individuals to use in light of tax changes
• Understand current cases and rulings affecting individuals and businesses

Preparation

None