Course Description
This quarterly tax update covers late-year developments and planning items that impact 2025 filings and 2026 client work. Key segments include the federal shift away from paper checks, practical refund and payment reminders, and new guidance on Trump Accounts.
The session also walks through upcoming Premium Tax Credit repayment changes effective for 2026, and it summarizes new guidance on the temporary 2025–2028 deductions for qualified tips and qualified overtime compensation, with a focus on what records you need and which forms drive reporting.
Topics Covered
- Payments and refunds reminders; move from paper checks to electronic methods
- IRS Online Account overview and practical client support considerations
- Trump Accounts: seed contribution, election, and key Notice 2025-68 highlights
- Premium Tax Credits: repayment cap repeal effective for tax years beginning after December 31, 2025
- Qualified tips deduction (2025–2028): W-2 Box 7, Form 4070, Form 4137, and 1099-K recordkeeping
- Qualified overtime deduction (2025–2028): FLSA premium portion calculations and Notice 2025-69 examples
- TAS/IRS updates and other late-year reminders
Learning Objectives
- Identify client actions needed ahead of the September 30, 2025 transition away from most federal paper checks.
- Explain the basic structure of Trump Accounts, including the seed contribution concept, the election form, and where key Notice guidance applies.
- Apply the repayment-cap change for excess advance Premium Tax Credits effective for tax years beginning after December 31, 2025.
- Distinguish qualified tips from allocated tips and identify when Forms W-2, 4070, and 4137 matter for reporting.
- Compute qualified overtime compensation using the ‘premium portion’ concept and the Notice examples (including when pay stubs show total overtime).
- Recognize late-year administrative items and IRS/TAS updates that may change how you handle penalties and client service in 2026.
About The Presenter:
Kristy Maitre, EA
Kristy is an experienced tax professional and educator specializing in ethics, compliance, and professional responsibility for CPAs, enrolled agents, and tax practitioners. She regularly presents continuing education programs focused on Circular 230 standards, IRS enforcement trends, and practitioner risk management. Currently a tax professional employed by a small firm in Iowa, Kristy brings her 27 years of IRS employee experience as well as her years with Iowa State University’s Center for Agricultural Law and Taxation, which makes a unique combination of experience and perspective to our speaker corps. Her experience at the IRS, including twelve years as the IRS’s Iowa tax practitioner “go to” person and seven years as an IRS Revenue Agent gives her the background to know how to handle the IRS bureaucracy. Kristy regularly demonstrates her ability to show practitioners how to minimize client tax liability and avoid practitioner compliance problems with the IRS.