Form 1040, Schedule 3-A
From Bob Jennings at TaxSpeaker. Check out more at taxspeaker.com On August 20th, the IRS released the draft version of new Form 1040, Schedule 3-A. It will be used to claim the earned income credit, the additional child tax credit, the refundable American Opportunity Credit and the refundable portion of the adoption credit.
The 2026 Doug LaMalfa Federal Disaster Tax Relief Certainty Act
From Bob Jennings at TaxSpeaker. Check out more at taxspeaker.com The 2026 Doug LaMalfa Federal Disaster Tax Relief Certainty Act signed into law on September 11th 2026 changes qualified disaster tax treatment to Federally declared disasters if the incident period of the disaster with respect to which such declaration is made begins on or after December 28th, 2019, and before January 1st, 2027. The Act also excludes wildfire relief payment from income if declared after 12/31
Meal & Entertainment Deductions
From Bob Jennings at TaxSpeaker. Check out more at taxspeaker.com
Charity-Donor Advised Funds
From Bob Jennings at TaxSpeaker. Check out more at taxspeaker.com Donor advised funds (IRC Sec. 4966) A donor-advised fund (“DAF”) is a charitable vehicle housed within a 501(c)(3) public charity that allows a donor to make a gift, take an immediate charitable deduction, and recommend, typically with strong persuasive authority, future grants made from funds in the DAF. Unlike private foundations that require a minimum annual distribution, a DAF has no distribution requireme
