Presented April 2, 2026.
$79.00 Video Run time 2:44:39 Download Video Recording and Presentation Slide Deck
No CPE
For 2025 return preparation and 2026 tax planning, there's a whole lot more on the plate than usual. New legislation, some of it retroactive and some prospective is a real game changer. Some to the new legislation retroactively applicable to the beginning of 2025 is not particularly well defined with reporting guidance. Many new elections are available. Other elections made in the past may be newly undone.
What's the result of all of this? A huge quandary of choices.
Many preparers have already made choices on tax returns already filed. Perhaps some of those choices are regrettable. May those choices be undone? In many cases, yes. In golf, we call it mulligans. In tax, we call it learning what to do and retroactively putting yourself in the right place at the right time. We'll show you exactly how to do it AND also how to make the best choices from this point in filing season forward.
Highlights:
- Superseding returns - Ins and outs, do's and don'ts, major opportunities and pitfalls
- OBBBA (newly effective tax legislation) cost recovery new choices and timing traps
- Business interest expense deduction - Best moves to make now (including possibly undoing elections)
- R&D expenses - Whether, how and when to amend returns to generate handsome tax refunds - Who's in an who's out
- Covid ERC - Explosion of new court cases re: refund eligibility, brand new earth shaking wrinkles on timing of wage expense reduction and income taxable income resulting from ERC refunds - Does the tax benefit rule really apply? Or, is IRS blowing smoke?
- Effect on preparer behavior of Murrin v. Comm. - a/k/a Is the statute of limitations for assessment really open forever?
- What's really happening re: IRS and paper check refunds and what to do about it (taxpayers on a starvation diet)
- Treading water and stopping dam breaks re: IRS's new first time penalty abatement policy
- Effect of new legislation on periods of limitation for claims for refund
- All new IRS treacherous changes to Form 1065 and 1120-S