AICPA's Annual Federal Tax Update

Overview

All new material for tax practitioners to get updated on the most pressing tax matters affecting business entities, individuals, estates, and trusts, including H.R. 1.

Highlights

Key Topics

• Provisions of H.R. 1, commonly referred to as OBBBA
• IRS administrative issues, compliance, and new forms
• Court cases settled in the last year
• New, updated, and expiring tax deductions and credits

Prerequisites

Basic understanding of federal income taxation

Designed For

Who Will Benefit

• Public accounting senior associates, managers, and partners
• Tax professionals in company finance or tax departments

Objectives

Learning Outcomes

• Identify 2025 inflation adjustments that primarily affect businesses.
• Identify 2025 inflation adjustments that primarily affect individuals.
• Recognize the impact of recent changes in the tax regulatory environment.
• Identify changes H.R. 1 made to general business taxation.
• Determine when deemed royalty payments terminate for repatriated intangible property.
• Recognize H.R. 1's changes that affect pass-through entity taxation.
• Identify the changes that H.R. 1 made to individual taxation.
• Determine an estate beneficiary's tax basis in property received from an estate.