Individual Tax Workshop Day 1

General Description:

Participants will review the rules, regulations, and forms required for the filing of the individual income tax return. This program will use the Form 1040 to highlight commonly encountered problems. This is Day 1 of a two-day program. To attend the full two-day program you must register for both days, but they do not have to be taken consecutively.

Learning Objective:

After completing Day 1 of this course the participant will be able to:

• Describe the legislative changes made by TOBBB, including changes affecting individuals that are effective for 2025 and changes effective for 2026, such as residential energy requirements, electric vehicle credits, clean energy credits, solar credits, the SALT limit of $40,000, acquisition debt, mortgage insurance premiums, bonus depreciation, and §179 deduction.
• Explain other changes made by TOBBB, including the new Trump Accounts and Trump Pilot Program; changes to distributions from QSTPs effective July 5, 2025; refundable adoption credit; new rules on small business stock under §1202; filing requirements for Form 1099-K; treatment of ERC refunds and filing claims; new §1062 on sales of agricultural property; status of the Direct File Program; and additional deduction in 2026 for certain educators.
• Discuss the latest guidance on digital assets and treatment of losses for individuals who have been defrauded.
• Describe the options for distributions from qualified plans and IRAs, the effect on stretch IRAs, regulations which affect the 10-year payout, and RMDs in 2025.
• Discuss the inflation adjustments for 2025 and 2026.
• Discuss the credits available under the Inflation Reduction Act including the EV credit, solar credit, and energy efficient home improvement credit for a residence and a principal residence.
• Discuss Schedule A deductions for individuals that itemize their deductions, including Medical and dental expenses, deductible taxes, and mortgage interest, including acquisition debt and investment interest.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

Related Courses: