Get a clear breakdown of this year’s major Federal and California tax law changes affecting C and S corporations, partnerships, estates, trusts, and exempt organizations’available anytime, on demand. This course examines the One Big Beautiful Bill, the sweeping legislation reshaping the tax landscape and creating significant implications for both businesses and individuals. You’ll explore the bill’s most important provisions, including updates for corporate and pass-through entities, as well as new considerations for estates, trusts, and exempt organizations. The course also explains how these federal changes align with’or diverge from’California conformity rules, along with the latest guidance from the IRS and California FTB. In addition, you’ll review key court decisions that signal how new and existing rules are being interpreted and enforced. With a focus on practical application, the course highlights critical compliance requirements, planning opportunities, and due diligence considerations so you can anticipate challenges and identify potential benefits. By the end, you’ll have the insights needed to navigate the upcoming tax season with greater clarity and confidence.
Learning Objectives
• Recognize and apply federal and California tax developments affecting corporations, partnerships, estates and trusts, and how they impact planning and compliance for your clients.
• Identify the year
• s significant regulations, IRS and FTB rulings, as well as other administrative guidance on business and estate tax matters.
• Describe the most important 2025 court cases addressing business entities, tax-exempts and estate, and their relevance to practice.
• Identify planning and due diligence learned from recent developments including OBBBA changes.
Major Topics
• New law provisions and guidance and tax form changes affecting business entities, tax-exempts and estates and trusts with emphasis on details of relevant energy and research credits, loss limitation and any federal law changes in 2025
• Key cases and IRS and FTB guidance affecting partnerships, LLCs, C corporations, and S corporations
• Employment taxes and worker classification matters
• Accounting method developments
• Tax credits updates
• Federal and California
• The state of California and multistate significant developments, including nexus and sourcing
• Expired and expiring provisions
• Inflation-adjusted amounts for 2026