2026 Tax Deadlines You Can’t Miss
As 2026 unfolds, tax preparers and their clients are facing more than just routine filing deadlines. This year represents a convergence of expiring incentives, evolving IRS guidance, and statute-driven planning windows, which create significant planning opportunities. Many of these opportunities are time-sensitive, meaning that you must take advantage of them or the benefit will be lost.
New IRS Relief for §163(j) Elections
On March 18, the IRS issued Revenue Procedure 2026-17. This guidance allows taxpayers to withdraw certain elections that were previously treated as irrevocable.
The relief applies to taxpayers who elected to be: a real property trade or business, an electing farming business, or an excepted regulated utility trade or business. Eligible taxpayers may amend their 2022, 2023, and 2024 tax returns to revoke these elections.
The Overlooked Tax Benefit of Cost Segregation: Partial Asset Dispositions
When thinking of cost segregation studies, most investors think of its main benefit of accelerating depreciation deductions to reduce tax liability. While that’s the widely known use for cost segregation, there’s another benefit that often gets missed: Partial Asset Dispositions (PAD).
PAD is a powerful tool in fixed asset tax planning. When used right, it can create large deductions and even create permanent tax savings.
Qualified Production Property Interim Guidance Released
The IRS has released IRS Notice 2026-16, providing interim guidance on the new Qualified Production Property (QPP) asset class enacted under the One Big Beautiful Bill Act. This guidance clarifies eligibility, elections, and recapture mechanics for the new 100% special depreciation allowance available to qualifying production facilities.
The Importance of Specialty Tax in CPA Client Planning
For most CPAs, tax season is a sprint—one that rarely leaves room to explore opportunities beyond core compliance. While specialty tax strategies such as cost segregation, R&D credits, and utility sales tax exemptions can create substantial savings, they’re often underutilized.
