Use of the sample forms and proposed rollover procedures in the guidance is optional for plan sponsors.
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TOPICS
Individuals
No joke: Comedian CPA adding more to Tax Return Pizza Tracker menu
CPA Nicole Davis built a Tax Return Pizza Tracker and then got a trademark for it. Now she has big plans for a companion app that would touch almost every task in a tax firm.
IRS updates overtime deduction FAQs, adds reporting details
Workers generally may claim the overtime pay deduction only for amounts reported on Form W-2, Wage and Tax Statement, beginning in tax year 2026, according to updated IRS FAQs. The IRS also clarified that the deduction does not make overtime pay exempt from gross income.
Planning for new charitable contribution limits
Thresholds and ceilings for individual and corporate deductions under the law known as the One Big Beautiful Bill Act may indicate a need for donation timing and other strategies.
The end of deferral: Calculating QOZ gain recognition on Dec. 31, 2026
A critical milestone in the qualified opportunity zone program looms, and understanding how to calculate the required deferred gain recognition is essential.
‘Stacking’ charitable contributions up to the 60% limit
The OBBBA sought to clarify AGI‑based charitable contribution deduction limits but instead added uncertainty over how those limits apply.
Condo casualty losses: Deductions for common-interest property
When disaster strikes a condominium or planned community, owners often pay for common-area repairs — but don’t always get the casualty loss deduction they expect. This article addresses when deductions are allowed and how communities might restructure ownership to unlock tax benefits for their residents.
Current developments in taxation of individuals: Part 3
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
Current developments in taxation of individuals: Part 2
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
Assessment of tax for excess APTC payments is invalid
The Tax Court advised a taxpayer that filing a second petition would not allow another IRS Collection Due Process review.
IRS finalizes deduction rules for tips, adds 3 eligible jobs
The final IRS regulations expand the tips deduction to 71 occupations and clarify rules on qualified tips, digital payments, and automatic gratuities.
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including
court cases, rulings, and guidance issued during the six months ending October 2025.
New Schedule 1-A for tips, OT, car loans, and senior deductions published
The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and examples on the four temporary deductions.
Average tax refund rises 11%; total filings decline
The average individual tax refund is up nearly 11% in the first 10 business days of the 2026 filing season, rising to $2,290 from $2,065 last year.
Prop. regs. issued on new qualified tips deduction
The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.
IRS releases FAQs on qualified overtime pay deduction under H.R. 1
An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act rules apply, including for federal employees.
IRS to start accepting and processing tax returns on Jan. 26
The IRS acknowledged that new tax provisions could affect federal taxes, credits, and deductions. The start of filing season is in line with previous years.
Sec. 30D credit not allowed in 2019 for vehicle purchased in 2013
A Sec. 30D credit was denied because a vehicle was not placed in service in the year the credit was claimed.
Only deductible W-2 wages used in determining Sec. 199A deduction
Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.
Revisiting Sec. 1202: Strategic planning after the 2025 OBBBA expansion
This powerful vehicle for excluding gain on qualified small business stock gains even more traction under new legislation.
INDIVIDUALS
Current Developments in Taxation of Individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2025.
