Event Description

Being a tax practitioner over the last few years has been tough! The tax landscape is constantly changing, and this shows no signs of slowing down. With the passage of the One Big Beautiful Bill Act (OBBBA) and the more recent guidance about it, there’s even more for practitioners to keep up with. Now more than ever, you need more than just new code sections hurled your way—you need a reliable and practical way to stay on top of new legislation, IRS focus areas, and key developments affecting your clients. We’ll walk through recent updates for employers related to tip deduction and overtime deduction reporting. We will also talk about those tricky expiration dates related to green energy credits. Finally, we will discuss disproportionate distributions to partners. Through discussion and easy-to-follow examples, you’ll be better prepared to answer tough client questions and stay current year-round. Not just during tax season!

Objectives

State the major provisions of the OBBBA related to businesses. Identify recent guidance related to the tip deduction and overtime deduction for employers. State when green energy credits may be taken and when they expire in accordance with recent guidance. Recognize differences in tax implications and reporting for proportionate and disproportionate distributions.