2026/2027 Federal Tax Update - Day 2

Date: 11-12-2026
Time: 9:00 AM – 5:00 PM EST, including a 1 hour lunch and (2) 10-minute breaks

Our Federal Tax Update covers individual and business taxation. This online event will update tax professionals on the complexities of the Federal tax law and client focused planning opportunities. You will also have the ability to speak with the instructors directly and ask questions during the presentation.

Day 2 Topics

Day 2 – Part 1 (9:00 AM – 12:30 PM ET) taught by Larry Johnson

OBBBA Update (Individual) – Key individual provisions of the One Big Beautiful Bill Act, including the permanent tax rate structure, the increased standard deduction, the temporary SALT cap increase, the senior deduction, and the new tip and overtime deductions.

Like-kind Exchanges – IRC §1031 mechanics for deferring gain on real property exchanges, qualifying property rules, identification and closing timelines, and common pitfalls.

Underpayment of Estimated Taxes: What You Need to Know (Individuals) – Safe harbor rules, penalty computation, and strategies to help individual clients avoid or minimize underpayment penalties.

Whistleblower Claims – How the IRS whistleblower program works, the process for filing a claim, award eligibility, and notable recent case outcomes.

Day 2 – Part 2 (1:30 PM – 5:00 PM ET) taught by Sheldon Clark

OBBBA Update (Business, Estates and Trusts, etc.) – Business and entity-side provisions of the OBBBA, including permanent 100% bonus depreciation, the increased §179 expensing limit, the permanent §199A QBI deduction, and the increased estate/gift exemption.

Cost Segregation Update – How cost segregation studies accelerate depreciation on real property components, and how that interacts with restored bonus depreciation to maximize current-year deductions.

Business Succession Planning Overview – Tax and structural considerations in transitioning business ownership, including buy-sell agreements, valuation approaches, and gifting or trust strategies.

Cases, Rulings, and IRS Developments (Business) – Recent court decisions, IRS rulings, and guidance affecting business taxpayers, with an eye toward audit risk and planning recommendations.

Please note that topics are subject to change

Course Number: LWC111226
NASBA Field of Study: Taxes (8 hours)
Level: Overview
Instructional Method: Group Internet Based
Presenter: Sheldon Clark and Larry Johnson
Prerequisites: A basic understanding of Federal tax laws
Advanced Preparation: None
IRS Program Numbers: XW9MP-U-02055-26-O and XW9MP-U-02056-26-O