2025 TAX UPDATE PART 1
Update Part 1 Topics:
- What’s new. An annual update on recent cases, regulations, and rulings including coverage of the OBBBA no tax on tips, no tax on auto loans, and no tax on overtime provisions
- Theft loss deductions after the OBBBA: is there any way to make it work?
- Update on ERC
- Collection due process hearings: client opportunities to contest a notice of federal tax lien (NFTL) or IRS levy without going to court
- Crypto/AI Update
- Focus topics: short discussions of selected topics
- Understanding assessment: the IRS cannot collect a tax that has not been assessed, so what, exactly, is assessment?
- Addressing address changes
- Continuing worker classification issues and new IRS guidance
- The bad debt deduction: making the most of a bad thing
- Ethics: Reasonable cause defenses to penalties
