Federal Tax Update 2024 - Individuals

Tax season waits for no one—and staying updated is key to serving your clients with confidence. During the Federal Individual Tax Update 2024, we’ll unpack the latest changes in federal tax law, IRS guidance, and must-know strategies for this filing season.

What you’ll gain:

✅ Insight into the most recent IRS updates and their impact
✅ Practical guidance to navigate changes confidently
✅ Tools and knowledge to set your practice apart

We’ll cover critical updates and practical strategies, including:

2025 Inflation Adjustments and Tax Changes:

Updates on tax brackets, standard deduction amounts, and limits for key credits like the Child Tax Credit and Earned Income Tax Credit.
Insights into Health Savings Accounts (HSA) and Flexible Spending Account (FSA) adjustments.
Navigating Retirement and Savings Updates:

New rules for Required Minimum Distributions (RMDs) under SECURE Act guidance.
Increased contribution limits for Traditional and Roth IRAs, as well as SIMPLE and 401(k) plans.
Energy and Vehicle Tax Credits:

Expanded Residential Clean Energy Credits and new rules for labor cost inclusions.
Updates on Clean Vehicle Credits and the impact of recent IRS guidance on electric vehicles.
Tax Implications of Recent Court Cases:

Analysis of rulings like Anderson v. Commissioner and Betty Amos v. Commissioner of IRS, with practical takeaways for compliance and deductions.
Digital Asset Reporting and IRS Initiatives:

Final regulations for cryptocurrency basis reporting starting in 2025.
Overview of the IRS’s Direct File program and initiatives to simplify compliance.

3 IRS CE/3 NASBA CPE*

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*Self-Study recording not available for NASBA CPE credit.