Recorded on December 30th, 2025, this comprehensive federal tax update is based on IRS guidance released at the end of 2025 and is designed to support accurate preparation of both 2025 and 2026 tax returns. While the One Big Beautiful Bill Act (OBBBA) is a central focus, the course also covers multiple non-OBBBA developments that directly affect income reporting, deductions, compliance, and due diligence.
The session provides in-depth clarification on the new deductions for qualifying tips and overtime, including eligibility rules, interaction with the Fair Labor Standards Act, and how these deductions are claimed at the individual level. Special emphasis is placed on transitional relief for 2025 returns, the absence of mandatory reporting for that year, and the significant reporting changes that take effect in 2026, including updated W-2 and information return requirements.
Beyond OBBBA provisions, the course examines Trump Accounts, senior exemptions, auto loan interest deductions, ethics updates, procedural changes affecting timely filing, and recent court cases reinforcing the importance of proper reporting and documentation. Practical examples and real-world scenarios help participants navigate uncertainty created by incomplete reporting and late-issued guidance.
This recorded program equips professionals with the tools needed to apply year-end IRS guidance confidently, manage multi-year compliance challenges, and prepare for expanded reporting obligations in 2026 while still meeting 2025 filing responsibilities.
Learning Objectives
After attending this webinar, participants will be able to:
- Identify which tips and overtime qualify for the OBBBA deductions and how they are claimed on individual returns
- Distinguish between 2025 transitional relief and mandatory 2026 reporting requirements
- Apply IRS Notices issued at the end of 2025 to real-world preparation scenarios
- Evaluate reporting challenges when qualifying income is not separately stated
- Recognize additional late-2025 federal tax updates that impact compliance and documentation
This course counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
About the Presenter:
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of continuing education courses.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.
He has presented dozens of webinars on Form 1099 (for 10 years on this subject!), marriage in the tax code, tax updates, the new Form W-4, payroll updates, filing status, tax credits, corporation and partnership taxation, and other issues relating to the modern-day setting.
