Stay ahead in the dynamic world of taxation with "Federal Tax Updates - OBBB and IRS Procedure for Individuals." This comprehensive course delves into the latest tax legislation, including the landmark One Big Beautiful Bill (OBBB), and critical IRS procedural changes impacting individual taxpayers.

Led by an experienced tax professional, this course provides a deep dive into significant updates, ensuring you are well-equipped to navigate the evolving tax landscape. We'll explore the legislative process behind these changes, including the use of reconciliation, and analyze their far-reaching implications.

• Understand the permanent and temporary changes to individual tax rates and standard deductions introduced by OBBB.
• Examine the new provisions for "no tax on Social Security," "no tax on tips," and "no tax on overtime," including their applicable phase-outs and expiration dates.
• Learn about expanded uses for 529 plans beyond traditional college expenses, including K-12 tuition and trade certifications.
• Discover enhancements to ABLE accounts and the introduction of the "Trump Account" for long-term savings for children.
• Review updates to itemized deductions, including the increased SALT deduction limitation and changes to casualty losses.
• Get up-to-date on IRS procedural improvements, such as the expanded online account features and progress in addressing identity theft cases.
• Analyze recent court cases related to notice of deficiency, tax court petitions, and innocent spouse relief, gaining insights into critical taxpayer rights and IRS interpretations.
• Explore important changes to retirement plans, including exceptions to early withdrawal penalties for emergencies and domestic abuse.

This course is essential for tax professionals, financial advisors, and individuals seeking to comprehend and effectively apply the newest federal tax laws and IRS guidance for individuals. Equip yourself with the knowledge to optimize tax planning and ensure compliance in a rapidly changing environment.