While You Were Filing: IRS Guidance You Missed.
The Treasury Department has issued many Proposed Regulations since the enactment of OBBBA. However, none have gone final and some are still open for comments. We will go into a quick review of the recent Proposed Regulations issued by the Treasury regarding the OBBBA provisions. This includes No Tax on Car Loan Interest, Trump Accounts, No Tax on Tips, and No Tax on Overtime.
Spoiler alert: The Proposed Regulations to the Trump Accounts do not resolve any of our unanswered questions such as the Gift Tax return issue for the $5K contributions. This may be one of the many Technical Corrections to OBBBA.
Learn how §7508A disaster relief can mean refunds for your clients due to the Kwong and Abdo cases. However, this is very time sensitive because refund claims must be done by July 10, 2026.
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*Self-Study recording not available for NASBA CPE credit.
IRS Program #: 7Q3WU-T-
CTEC Course #: 6248-CE-
Larry Pon
,
CPA/PFS, CFP, EA, USTCP, AEP
Larry has been a tax professional since 1986 with a tax planning, preparation, and representation practice in Redwood Shores, CA. Larry enjoys speaking about tax to tax and financial planning professionals. Larry received his BS in Business Administration with emphases in Accounting and Finance from UC Berkeley and MS in Taxation from Golden Gate University.
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While You Were Filing: IRS Guidance You Missed.
2 IRS CE/CTEC/NASBA CPE*
The Treasury Department has issued many Proposed Regulations since the enactment of OBBBA. However, none have gone final and some are still open for comments. We will go into a quick review of the recent Proposed Regulations issued by the Treasury regarding the OBBBA provisions. This includes No Tax on Car Loan Interest, Trump Accounts, No Tax on Tips, and No Tax on Overtime. ...
