Planning after tax changes

Treasury and IRS resources:

• One, Big, Beautiful Bill provisions

AICPA resources:

• 2025 OBBBA Charts: Key Tax Provisions and PFP Considerations

• 2025 Fall Tax Rewind | Tax Section webcast archive

• Client Letter on Key Provisions in the One Big Beautiful Bill Act

• Effective dates of tax provisions in H.R. 1, the One Big Beautiful Bill Act (OBBBA)

• Excerpt: H.R. 1 — Tax Provision Summary & Insights

• FAQs on Tax Reform via Budget Reconciliation

• FAQs on H.R. 1, the One Big Beautiful Bill Act (OBBBA)

• H.R. 1 — The One Big Beautiful Bill Act: Tax Provision Summary & Insights

• Rev. Proc. 2025-32, Tax inflation adjustments for tax year 2026

• Tax Practice Quarterly: 2026 Busy Season Readiness | Tax Section webcast archive

• Tax Section Odyssey podcast episodes

Treasury and IRS resources:

• IR-2026-94, IRS updates FAQs about the limitation on the deduction for business interest expense, announces updated FAQs available in FS-2026-14, Questions and Answers about the limitation on the deduction for business interest expense which revises FS-2025-09, Questions and answers about the limitation on the deduction for business interest, issued in December 2025 (Aug. 19, 2026)

• Rev. Proc. 2026-17, 26 CFR 601.601. Rules and regulations. (Also Part I, §§ 163, 168.) (March 18, 2026)

• IR-2025-126, IRS updates frequently asked questions on changes to the Limitation on the Deduction for Business Interest Expense announces FS-2025-09, Questions and answers about the limitation on the deduction for business interest expense (Dec. 23, 2025)

AICPA resources:

• FAQs on H.R. 1, the One Big Beautiful Bill Act (OBBBA)

Treasury and IRS resources:

• Notice 2026-50, Safe Harbor for the Credit for Carbon Oxide Sequestration under Section 45Q for Qualified Carbon Oxide Reported under Subpart RR (Aug. 19, 2026)

• IR-2026-59, Treasury, IRS provide guidance on a new method for recovering federal excise tax paid on dyed fuel established under the One, Big, Beautiful Bill (April 30, 2026)

• IR-2026-23, Treasury, IRS provide guidance for certain energy tax credits regarding material assistance provided by prohibited foreign entities under the One, Big, Beautiful Bill announces Notice 2026-15, Guidance to Apply Interim Safe Harbors for Purposes of Determining a Taxpayer’s Material Assistance from a Prohibited Foreign Entity; Other Prohibited Foreign Entity Guidance (Feb. 12, 2026)

• Proposed regulations, Section 45Z Clean Fuel Production Credit (Feb. 4, 2026)

• Announcement 2026-1, Claims under Sec. 6435 for Tax Paid on Dyed Fuel & IR-2025-125, Treasury, IRS announce forthcoming guidance on a new method for recovering federal excise tax paid on dyed fuel established under the One, Big, Beautiful Bill (Dec. 22, 2025)

• IR-2025-122, Treasury, IRS provide safe harbor for taxpayers claiming the carbon capture credit announces Notice 2026-01, Safe Harbor for the Credit for Carbon Oxide Sequestration under Section 45Q for Qualified Carbon Oxide Disposed of in Secure Geological Storage in Calendar Year 2025 (Dec. 19, 2025)

• IR-2025-86, Treasury, IRS issue FAQs to address the accelerated termination of several energy provisions under OBBB announces FS 2025-05, FAQs for modification of sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, AND 179D under Public Law 119-21, 139 Stat. 72 (July 4, 2025), commonly known as the One, Big, Beautiful Bill (OBBB) (Aug. 21, 2025)

• Notice 2025-42, Beginning of Construction Requirements for Purposes of the Termination of Clean Electricity Production Credits and Clean Electricity Investment Credits for Applicable Wind and Solar Facilities (Aug. 15, 2025)

AICPA resources:

• Energy Tax Credits Client Alert

Treasury and IRS resources:

• IR-2026-25, Treasury, IRS issue guidance on special depreciation allowance for qualified production property, announce upcoming proposed regulations under the One, Big, Beautiful Bill announces Notice 2026-16, Interim Guidance on Special Depreciation Allowance for Qualified Production Property (Feb. 20, 2026)

• IR-2026-06, Treasury, IRS issue guidance on the additional first year depreciation deduction amended as part of the One, Big, Beautiful Bill announces Notice 2026-11, Interim Guidance on Additional First Year Depreciation Deduction under Sec. 168(k) (Jan. 14, 2026)

AICPA resources:

• Key Changes to Depreciation under H.R. 1

Treasury and IRS resources:

• Publication 547, Casualties, Disasters, and Thefts

AICPA resources:

• Qualified Disasters under H.R. 1

Treasury and IRS resources:

• Sec. 898(c) Transition Rule for Allocating Foreign Taxes and Section 960(d)(4) Foreign Tax Credit Disallowance (July 31, 2026)

• IR-2025-126, IRS updates frequently asked questions on changes to the Limitation on the Deduction for Business Interest Expense announces FS-2025-09, Questions and answers about the limitation on the deduction for business interest expense (Dec. 23, 2025)

• Notice 2025-78, Application of Sec. 250(b)(3)(A)(i)(VII) to Sales or Other Dispositions of Property (Dec. 4, 2025)

• Notice 2025-77, Effective Date and Application of Sec. 960(d)(4) (Dec. 4, 2025)

• Notice 2025-75, Transition Rule for Applying Sec. 951(a)(2)(B) (Dec. 4, 2025)

• Notice 2025-72, Allocation of Foreign Income Taxes Resulting from the Repeal of Section 898(c)(2); Recognition of Pretransition Gain or Loss under Sec. 987 (Nov. 25, 2025)

AICPA resources:

• FAQs on H.R. 1, the One Big Beautiful Bill Act (OBBBA)

• FAQs on Sec. 958(b)(4) and Sec. 951B

• H.R. 1 international tax provisions overview

Treasury and IRS resources:

• Publication 15-B, Employer's Tax Guide to Fringe Benefits

AICPA resources:

• Meals and entertainment (M&E) deductions: FAQs post-H.R. 1

Treasury and IRS resources:

• Notice 2026-40, Transitional Guidance on Qualified Opportunity Zones under §§ 1400Z-1 and 1400Z-2 (June 18, 2026)

• IR-2026-45, Treasury, IRS provide guidance to States for nominating census tracts as qualified opportunity zones under the One, Big, Beautiful Bill announces Rev. Proc. 26 CFR 601.601: Rules and regulations. (Also Part 1, §§ 1400Z-1, 1400Z-2.) (April 6, 2026)

• IRS Tax Tip 2026-04, Enhanced tax incentives for Qualified Opportunity Zone investments in rural areas (Jan. 20, 2026)

• IR-2025-96, Treasury, IRS provide guidance for Opportunity Zone investments in rural areas under the One, Big, Beautiful Bill announces Notice 2025-50, Substantial Improvement of Property in Rural Areas (Sept. 30, 2025)

AICPA resources:

• Summary and initial thoughts — Changes to opportunity zones (OZs)

Treasury and IRS resources:

• Rev. Proc. 2025-28, 26 CFR 601.204: Changes in accounting periods and in methods of accounting. (Also, Part 1, §§ 174, 174A, 280C, 446; 1.280C-4, 1.446-1.) (Aug. 28, 2025)

AICPA resources:

• Practical insights from IRS Rev. Proc. 2025-28

• Summary of IRS released R&E expense guidance under H.R. 1 and Rev. Proc. 2025-28

Treasury and IRS resources:

• Form 15714, Advance Election to Participate Under Section 25F for 2027 (December 2025)

• IR-2025-121, Treasury, IRS allow States to make an Advance Election to participate in the new federal tax credit for individual contributions to Scholarship Granting Organizations under the One, Big, Beautiful Bill announces Rev. Proc. 2026-06, 26 CFR 601.601: Rules and regulations. (Also Part I, Sec. 25F.) (Dec. 12, 2025)

• IR-2025-115, Treasury, IRS request comments on implementation of the new federal tax credit for individual contributions to Scholarship Granting Organizations under the One, Big, Beautiful Bill announces Notice 2025-70, Request for Comments on Individual Tax Credit for Qualified Contributions to Scholarship Granting Organizations (Nov. 25, 2025)

AICPA resources:

• FAQs on H.R. 1, the One Big Beautiful Bill Act (OBBBA)

Treasury and IRS resources:

• IR-2026-88, IRS updates FAQs on qualified overtime deduction, announces updated FAQs in FS-2026-13, Updates to questions and answers about the new deduction for qualified overtime compensation and revise FS-2026-01, Questions and answers about the new deduction for qualified overtime compensation, issued in January 2026 (Aug. 6, 2026)

• The IRS released Form 1099‑MISC, Miscellaneous Information, (May 26, 2026) and draft Form 1099‑NEC, Nonemployee Compensation, (May 5, 2026), on IRS.gov, including new fields for qualified overtime, qualified tips and a tipped occupation code. Draft instructions for forms 1099-MISC and 1099-NEC have also been released (April, 14 2026).

• Final Regulations TD 10044: Occupations that Customarily and Regularly Received Tips; Definition of Qualified Tips (April 10, 2026).

• FS-2026-05, What you will need to file your taxes under the One, Big, Beautiful Bill ( March 2026)

• FS-2026-04, Schedule 1-A, Additional Deductions: What to know about the new form (March 2026)

• IR-2026-28, IRS published schedule taxpayers will use to claim deductions on no tax on tips, no tax on overtime, no tax on car loans, no tax on seniors (March 2, 2026)

• IR-2026-10, Treasury, IRS issue FAQs to address the new deduction for qualified overtime compensation under the One, Big, Beautiful Bill (Jan. 23, 2026) announces FS-2026-01, Questions and answers about the new deduction for qualified overtime compensation (Jan. 23, 2026)

• IR-2025-114, Treasury, IRS provide guidance for individuals who received tips or overtime during tax year 2025 announces Notice 2025-69, Guidance for Individual Taxpayers who received Qualified Tips or Qualified Overtime Compensation in 2025 (Nov. 21, 2025)

• Schedule 1-A, Additional Deductions (Nov. 7, 2025)

• IR-2025-110, Treasury, IRS provide penalty relief for tax year 2025 for information reporting on tips and overtime under the One, Big, Beautiful Bill announces Notice 2025-62, Relief from Certain Penalties Related to Information Reporting Required in Connection with No Tax on Tips and Overtime (Nov. 5, 2025)

• IR-2025-107, IRS issues FAQs on Form 1099-K threshold under the One, Big, Beautiful Bill; dollar limit reverts to $20,000 announces FS-2025-08, IRS revises and updates Form 1099-K frequently asked questions (Oct. 23, 2025)

• IRS website on Tipped Occupations

• IR-2025-92, Treasury, IRS issue guidance listing occupations where workers customarily and regularly receive tips under the One, Big, Beautiful Bill (Sept. 19, 2025) announces proposed regulations REG-110032-25, Occupations That Customarily and Regularly Received Tips; Definition of Qualified Tips (Sept. 22, 2025)

• FS-2025-03, One, Big, Beautiful Bill Act: Tax deductions for working Americans and seniors (July 14, 2025)

AICPA resources:

• FAQs on qualified tip and overtime deduction

• Highlights of Schedule 1-A, Additional Deductions

Treasury and IRS resources:

• IR-2026-96, Treasury, IRS issue proposed regulations on eligible investments for Trump Accounts under the Working Families Tax Cuts, announces a Notice of proposed rulemaking: Guidance on Eligible Investments for Trump Accounts (Aug. 20, 2026)

• IR-2026-90, Treasury, IRS issue proposed regulations on employer contributions to Trump Accounts under the Working Families Tax Cuts announces REG-101355-26 Proposed regulations: Employer Contributions to Trump Accounts and Nondiscrimination Rules for Dependent Care Assistance Programs (Aug. 11, 2026)

• IR-2026-80, Treasury, IRS provide safe harbor for certain contributions to Trump Accounts under the Working Families Tax Cuts announces Rev. Proc. 2026-25, Transfer Tax Safe Harbor for Certain Contributions to Trump Accounts (June 29, 2026)

• IR-2026-68, Taxpayers can now view and submit Trump Account elections in their IRS Individual Account (May 28, 2026)

• IR-2026-33, Treasury, IRS issue proposed regulations on how to open initial Trump Accounts under the One, Big, Beautiful Bill announces REG-117270-25, Trump Accounts (March 9, 2026)

• IR-2026-31, Treasury, IRS issue proposed regulations for Trump Accounts contribution pilot program, Treasury Department to deposit $1,000 into the account of each eligible child, announces REG-117002-25 Proposed regulations: Trump Accounts Contribution Pilot Program (March 6, 2026)

• https://trumpaccounts.gov/ and https://www.irs.gov/trumpaccounts

• About Form 4547, Trump Account Election(s), Form 4547, Trump Account Election(s) and instructions (December 2025)

• IR-2025-117, Treasury, IRS issue guidance on Trump Accounts established under the Working Families Tax Cuts; notice announces upcoming regulations announces Notice 2025-68, Notice of intent to issue regulations with respect to section 530A Trump accounts (Dec. 2, 2025)

AICPA resources:

• Trump accounts are coming — and you need to be ready | Podcast

• Trump accounts under Sec. 530A — FAQs and insights

• Trump (Sec. 530A) Accounts: Features and Planning Opportunities

• Trump (Sec. 530A) Accounts: Features and Planning Opportunities: Preview + visiWealth resource

Treasury and IRS resources:

• IR-2026-28, IRS published schedule taxpayers will use to claim deductions on no tax on tips, no tax on overtime, no tax on car loans, no tax on seniors (March 2, 2026)

• Proposed Regulations under Sec. 163(h)(4), Sec. 6050AA, Sec. 6721 & Sec. 6722 — REG-113515-25, Car Loan Interest Deduction (Jan. 2, 2026)

• Schedule 1-A, Additional Deductions (Nov. 7, 2025)

• IR-2025-105, Treasury, IRS provide transition relief for 2025 for businesses reporting car loan interest under the One, Big, Beautiful Bill announces Notice 2025-57, Transitional Guidance Regarding Returns Relating to Certain Interest on Specified Passenger Vehicle Loans Received in a Trade or Business (Oct. 21, 2025)

• Draft Form 1098-VLI, Vehicle Loan Interest Statement (Oct. 17, 2025)

• FS-2025-03, One, Big, Beautiful Bill Act: Tax deductions for working Americans and seniors (July 14, 2025)

AICPA resources:

• Key insights and takeaways — Specified Passenger Vehicle Loan Interest

Treasury and IRS resources:

• IR-2026-86, Treasury, IRS Issue Guidance on the Permanent Expansion of Paid Family and Medical Leave under the Working Families Tax Cuts, announces Notice 2026-28, Guidance on the employer credit for paid family and medical leave under section 45S (Aug. 5, 2026)

• IR-2026-73, Treasury, IRS announce intent to issue proposed regulations for excise tax on excess tax-exempt organization executive compensation under the One, Big, Beautiful Bill announces Notice 2026-36, Notice of Intent to Issue Regulations Under Section 4960 (June 5, 2026)

• IR-2026-55, IRS updates frequently asked questions about section 127 educational assistance programs announces updates to FS-2026-10, Updates to frequently asked questions about educational assistance programs (April 20, 2026)

• Proposed regulations REG-114499-25: Excise Tax on Remittance Transfers (April 10, 2026)

• IR-2026-35, Updated Tax Withholding Estimator lets millions of taxpayers take One, Big, Beautiful Bill changes into account when calculating their withholding (March 12, 2026)

• IR-2026-27, Treasury, IRS issue FAQs about general refundability and recognizing Indian tribal governments for purposes of making a special needs determination for the Adoption Tax Credit announces FS-2026-03, Questions and Answers about Refundability and Recognizing Indian Tribal Governments for Purposes of Making a Special Needs Determination for the Adoption Tax Credit (Feb. 27, 2026)

• Notice 2026-7, Additional Interim Guidance Regarding the Application of the Corporate Alternative Minimum Tax (Feb. 19, 2026)

• IR-2026-09, Treasury, IRS: Supplemental basic allowance for housing payments to members of the military are not taxable (Jan. 16, 2026)

• IR-2026-03, Treasury, IRS issue proposed regulations reflecting changes from the One, Big, Beautiful Bill to the threshold for backup withholding on certain payments made through third parties (Jan. 8, 2026)

• IR-2025-127, IRS updates frequently asked questions on the Premium Tax Credit announces FS-2025-10, Updates to Questions and Answers about the Premium Tax Credit (Dec. 23, 2025)

• Notice 2026-03, Relief from Additions to Tax under Sections 6654 and 6655 for Underpayment of Estimated Income Tax by Taxpayers Making an Election under Sec. 1062 (Dec. 22, 2025)

• IR-2025-119, Treasury, IRS provide guidance on new tax benefits for health savings account participants under the One, Big, Beautiful Bill announces Notice 2026-05, Expanded Availability of Health Savings Accounts under the One, Big, Beautiful Bill Act (OBBBA) (Dec. 9, 2025)

• IR-2025-113, Treasury, IRS issue guidance on tax benefit for lenders on loans secured by farm or rural property under the One, Big, Beautiful Bill announces Notice 2025-71, Interim Guidance Regarding Interest on Loans Secured by Rural or Agricultural Real Property under Section 139L of the Internal Revenue Code (Nov. 20, 2025)

• Form 1062, Deferral of Tax on Gain From the Sale or Exchange of Qualified Farmland Property to Qualified Farmers

• IR-2025-107, IRS issues FAQs on Form 1099-K threshold under the One, Big, Beautiful Bill; dollar limit reverts to $20,000 announces FS-2025-08, IRS revises and updates Form 1099-K frequently asked questions (Oct. 23, 2025)

• IR-2025-106, IRS issues FAQs to address Employee Retention Credits under ERC compliance provisions of the One, Big, Beautiful Bill announces FS-2025-07, IRS frequently asked questions (FAQs) address Employee Retention Credits under ERC compliance provisions of the One, Big, Beautiful Bill (Oct. 22, 2025)

• Proposed regulations: Domestically Controlled Qualified Investment Entities (Oct. 21, 2025)

• IR-2025-102, Treasury, IRS provide penalty relief for remittance transfer providers who fail to deposit excise tax under the One, Big, Beautiful Bill announces Notice 2025-55, Relief from Penalty for Failure to Deposit Remittance Excise Tax (Oct. 7, 2025)

• Report on the Replacement of Direct File, Department of the Treasury (Oct. 2, 2025)

AICPA resources:

• Corporate Alternative Minimum Tax: IRS Guidance and Strategic Insights

• FAQs on H.R. 1, the One Big Beautiful Bill Act (OBBBA)

• Navigating H.R. 1 (OBBBA) and TCJA Extensions: A Strategic Guide for Valuation Analysts

• Summary and key insights: IRS proposed regulations on QIEs