2026 Federal Tax Update featuring Greg White & George Koutelieris - Eugene
8.0 Credits
Member Price $350.00
Non-Member Price $430.00
Overview
Join tax experts Greg White and George Koutelieris as they walk you through a fast-paced update with in-depth coverage of new developments that you need to know. This Federal Tax Update covers major 2026 developments affecting individual and business taxpayers.
Key Takeaways
- Individual Tax Developments: Participants will review changes to first-time penalty abatement, the validity of individual-return extensions when estimated tax is inadequate, qualified opportunity fund deferred-gain calculations required for some clients on December 31, 2026, charitable contribution credits and limits, inflation adjustments, car-loan interest deductions, and the use of AI in IRS audit reports.
- Business Tax Developments: The update addresses 2026 changes to the section 199A QBID, IRS guidance on the One Big Beautiful Bill Act, an S corporation reasonable-compensation dispute, self-employment tax treatment for limited partners and LLC members, and IRS challenges to cost-segregation studies.
- Practical Client Guidance: Key takeaways include applying the revised penalty-abatement rule, evaluating Wall Street tax-savings programs and their costs, explaining the effect of 2026 QBID changes, rebutting IRS positions on cost-segregation reports, and understanding recent developments involving pass-through self-employment tax and S corporation compensation.
Highlights
Individuals
- Important changes in the IRS’s policy for “first time penalty abatement”
- The IRS’s new interpretation of when an extension of an individual return is invalid, due to inadequate estimates of tax due
- New Wall Street tax savings programs
- Are they “too good to be true”?
- Computing prior-year deferred gain on client investments in qualified opportunity funds (this is required for some clients on December 31, 2026)
- New guidance in the 100% charitable contributions credit allowed for certain scholarship granting organizations
- New 2026 limits on charitable contributions and overall itemized deductions
- Identify new inflation adjustments that will apply to 2026 tax returns
- Auditors are using AI in IRS audits
Business
- Developments in IRS audits of cost segregation studies.
- New guidance on the One Big Beautiful Bill
- New calculations for the section 199A QBID
- A surprising IRS/taxpayer dispute on S corporation reasonable compensation
- Developments on when limited partners and LLC members are subject to self-employment tax on pass-through earnings
Designed For
Tax professionals, whether in public practice or industry.
Objectives
Individuals
- Recognize important changes in the IRS’s policy for “first time abatement” for penalties
- Recognize a significant change in the IRS interpretation of when an extension of an individual return is invalid, due to inadequate estimates of tax due
- Learn how to compute prior-year deferred gain on client investments in qualified opportunity funds (this is required for some clients on December 31, 2026)
- Identify new guidance in the 100% charitable contributions credit allowed for certain scholarship granting organizations.
- Recognize a significant change in IRS audits – some auditors are using AI to write up audit reports
- Apply final regulations on the car loan interest deduction
- Identify new tax savings vehicles developed by Wall Street
- Are they “too good to be true”?
- Are the costs promotors are charging greater than the tax benefits?
Business
- Identify changes in the computation of the section 199A QBID for 2026
- Recognize new guidance issued by the IRS in 2026 on the One Big Beautiful Bill Act
- Learn why the IRS’s position in a 2026 S corporation reasonable compensation case is a mistake
- Recognize major new developments regarding when limited partner’s and LLC members pass-through income is subject to self-employment tax
- Understand new IRS position on cost segregation reports. The IRS is aggressively challenging taxpayer cost seg reports – we’ll cover the typical position taken by auditors and how to challenge it
Leader(s):
Leader Bios
George Koutelieris, Cutting Edge Tax Strategies LLC (Bothell, 98012)
George J. Koutelieris, CPA, MS-Tax, is a shareholder in the firm Johnson & Shute P.S. and a Member of Cutting Edge Tax Strategies, LLC. He is also an Adjunct Professor at Golden Gate University teaching various tax courses.
George's practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners, with a concentration on the real estate industry.
George is a member of the American Institute of Certified Public Accountants and the Washington Society of Certified Public Accountants, where he is a former chair of the WSCPA's Taxation Committee. George is also an active speaker on various tax topics, having presented in the past for all the State Societies on the west coast.
(3/19/21)
Gregory White, Cutting Edge Tax Strategies LLC (Bothell, 98012)
Greg White, CPA-WA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his tenth year as an adjunct professor at the Golden Gate University's Seattle Campus where he teaches capital assets, tax accounting, and individual taxation. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named "Top 50" IRS Practitioner by CPA Magazine.
Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV, King TV, and Northwest Cable News. He is frequently in contact with Treasury, IRS, and other top government officials in Washington, D.C. as to late breaking guidance from the government and has been involved in making recommendations to them to help practically shape federal tax legislation and administrative guidance.
(11/2/20)
Non-Member Price $430.00
Member Price $350.00