REG

Internal Revenue Service (IRS) rules for practitioners under Circular 230, professional tax standards, fees, and conflicts of interest.

Audits, the appeals process, statutes of limitation, and where tax disputes get litigated.

Filing requirements, estimated tax safe harbors, and preparer penalties under the Internal Revenue Code.

Formation, the statute of frauds, Uniform Commercial Code (UCC) versus common law, performance, breach, and remedies.

Agency authority and liability, plus the legal features of partnerships, limited liability companies (LLCs), and corporations.

Secured transactions, perfection and priority, suretyship, and the bankruptcy claim hierarchy.

Basis rules, Modified Accelerated Cost Recovery System (MACRS) depreciation, Section 179, and permanent 100% bonus depreciation.

Capital vs. ordinary treatment, Section 1231, depreciation recapture, and Section 1031 exchanges.

What counts as gross income, common exclusions, the kiddie tax, and passive activity loss limits.

Adjustments, the 2026 standard deduction, itemized deductions including the state and local tax (SALT) cap, the new tips, overtime, and senior deductions, and the qualified business income deduction.

Choosing the right filing status, refundable vs. nonrefundable credits, and the alternative minimum tax.

Traditional and Roth individual retirement accounts (IRAs), employer plans, 2026 limits, early withdrawals, and required distributions.

Fringe benefit taxation, employer payroll obligations, and worker classification.

Corporate taxable income, book-tax differences, the dividends-received deduction, and distributions.

Eligibility requirements, flow-through taxation, shareholder basis, and the accumulated adjustments account.

Formation, partner basis including liabilities, guaranteed payments, and distributions.

Fiduciary income tax, distributable net income, and the expanded estate and gift tax exemption.

501(c)(3) qualification, private foundations vs. public charities, and unrelated business income tax.