2026 National Income Tax Workbook

Note: This is a preliminary list of topics to be covered, and the content is subject to change. Some topics may be moved from one listed topic area to another. Additional topics may also be added.

Ethics. A discussion of important issues that help tax practitioners comply with their ethical obligations according to Circular 230. Topics include the following:

• Incompetence and Disreputable Conduct
• Office of Professional Responsibility Disciplinary Cases
• Self-Reporting to the Office of Professional Responsibility
• Reporting another Practitioner’s Misconduct to the Office of Professional Responsibility
• I.R.C. § 6103 Information Requests

Ethics – Case Studies. A discussion of important issues that help tax practitioners comply with their ethical obligations according to Circular 230. Ten case studies are used to illustrate real-life ethical challenges.

Gift Tax. Covers the following issues: 1) recognizing when a gift has been made, 2) understand when the annual exclusion from gift tax applies, 3) know when direct gifts for education expenses or medical expenses are excluded from gifts, 4) rules for spouses using split gifts, 5) understand the ordering rules for the deceased spousal unused exclusion ordering rules, and 6) how to adequately disclose a gift on a gift tax return.

Business Entities Tax Issues: Part 1. The following issues will be presented: 1) deducting partnership losses, 2) taxability of partnership distributions, and 3) explain how an S corporation shareholder’s stock and debt bases limit losses.

Business Entities Tax Issues: Part 2. The following issues will be presented: 1) understand when S corporation distributions are taxable, 2) how to apply for tax-exempt status on Form 1023-EZ, and 3) understand when an organization qualifies as a labor organization.

New and Expiring Legislation: An in-depth discussion of the income tax provisions of the One Big Beautiful Bill Act that became effective for 2026 and for future years plus other recently enacted tax legislation and procedures. It is organized by subject to help participants quickly find topics of interest and includes a table of tax provisions that have expired or are set to expire.

Individual Tax Issues: Part 1. Covers several current issues for tax practitioners preparing individual income tax returns, including the following:

• New charitable contribution deduction rules
• Investment theft losses
• Wagering gains and losses
• Reconciling and repayment of the Advance Premium Tax Credit
• Reporting amounts from Form 1099-K for sales of personal items

Individual Tax Issues: Part 2. Covers several current issues for tax practitioners preparing individual income tax returns, including the following:

• Credit for other dependents
• Senior deduction
• Deduction for car loan interest
• Individual Taxpayer Identification Number

Capital Gains and Losses. Covers a variety of topics including: 1) understanding what is considered a capital asset, 2) determine basis and holding period for capital assets, 3) identify stock in a disposition, 4) understand the netting of capital gains and losses, 5) understand when capital loss deductions are disallowed, 6) applying capital loss limits and understand loss carryforwards and carrybacks, and 7) understand which capital gains are included in and or excluded from the net investment income tax calculation.

IRS Issues. Discussion of key IRS issues for practitioners. Topics include the following:

• Simplified penalty relief
• Executive Order 14247
• IRS voluntary disclosure practice
• Tax Pro Account
• IRS Central Authorization File (CAF)
• Maintaining CAF authorizations
• Tax scams

Retirement Tax Issues. Examination of various retirement tax issues as follows: 1) making catch-up contributions, 2) retirement plans for small businesses, 3) I.R.C. § 457 Plans, 4) Roth IRA conversions and backdoor Roth IRAs, 5) social security survivor and death benefits, and 6) Trump Accounts.

Business Tax Issues: Part 1. Reviews corporate charitable contributions, the qualified business income deduction, pass-through entity tax, and fringe benefits.

Business Tax Issues: Part 2. Reviews settlements, fines and penalty rules, valuing a closely held business, and cash and accrual methods of accounting.

Agricultural and Natural Resource Tax Issues: Part 1. Covers several current issues for tax practitioners preparing returns for farmers and ranchers, including the following:

• Understanding how the tax law defines farming
• For- Profit versus not for-profit (hobby) farming
• Schedule F (Form 1040) reporting
• Payments to family members

Agricultural and Natural Resource Tax Issues: Part 2. Covers several current issues for tax practitioners preparing returns for farmers and ranchers, including the following:

• Form 1099 reporting
• Farm Income Averaging
• Estimated tax reporting and penalties

Oklahoma Tax Law Update. A staff member of the Oklahoma Tax Commission will provide an update of important new legislation, current tax provisions, and discuss their relevance to Oklahoma taxpayers.