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.
"Our best deal is always to become a monthly subscriber"
*Self-Study recording not available for NASBA CPE credit.
IRS Program #: TBD
CTEC Course #: TBD
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.
Recommended Webinars
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.
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"Our best deal is always to become a monthly subscriber" *Self-Study recording not available for NASBA CPE credit.
Fundamentals of PTETSocial Security Fairness Act and IRMAA
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Did you know your client's Adjusted Gross Income can affect how much they pay for Medicare premiums? You will certainly get an earful from your client when they find out their Medicare premiums are going up. Is there anything you can do about it? This is called the Income-Related Monthly Adjustment Amount (IRMAA). We will review how IRMAA is computed and what we can do to help our clients manage their IRMAA amount. We will start with a bonus topic of the Social Security Fairness Act which was passed in January, 2025 which may affect some of your clients who can get retroactive Social Security benefits all the way back to 2024.
Social Security Fairness Act and IRMAA
Hmm...nothing here yet.
