Q2 Critical Tax Updates FLEXCAST

Overview

Staying current in 2025 means more than waiting for the year-end federal tax update. This course delivers timely insight into the most consequential federal tax developments emerging this year, giving CPAs, EAs, and other tax professionals the clarity they need right now. This webcast examines essential regulatory shifts impacting individuals and businesses alike, with a focus on what’s already in motion: new form requirements, clean vehicle credit changes, premium tax credit guidance, proposed revisions to Circular 230, disaster relief provisions, and notable updates to retirement plan distributions. With planning opportunities clearly outlined and supported by real-world examples, this course prepares you to advise clients with confidence and precision.

Highlights

Timely insights into the most consequential federal tax developments emerging this year.

Prerequisites

None.

Designed For

CPAs and tax professionals.

Objectives

Identify and explain key updates to 2024 tax forms, including new Schedule 1 reporting for digital assets, Clean Vehicle Credit reconciliation requirements, and Form 172 documentation for net operating losses. Apply the provisions of the Federal Disaster Relief Act of 2023 to properly report casualty losses for clients affected by natural disasters. Explain the tax treatment implications of the types of federally declared disaster losses and determine proper timing for claiming such losses. Differentiate between the various retirement plan distribution repayments treated as rollovers in 2024 and their reporting requirements on Form 8606. Analyze recent judicial decisions affecting tax practice and their direct affects on hobby loss regulations. Implement planning strategies related to clean vehicle credits based on AGI limitations, tax liability constraints, and leasing considerations.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.