2026 Annual Federal Tax Refresher (AFTR)

Introduction

Welcome to Tax IQ Academy’s Annual Federal Tax Refresher Course, an IRS-approved continuing education program designed to keep tax professionals current, confident, and equipped to serve their clients at the highest level. If you’ve been in this industry for any amount of time, you already know what was true last filing season might not be true today, and that gap is exactly where mistakes get made. This course exists to make sure you’re not just keeping up, but actually ahead of what your clients are going to walk through the door asking about.

This course covers the updated inflation-adjusted figures for tax year 2026 as set forth in Rev. Proc. 2025-32, along with all applicable provisions of the Internal Revenue Code as they stand for taxable years beginning in 2026. Unless otherwise noted, all inflation adjustments are calculated by reference to Section 1(f) of the Code. Rev. Proc. 2025-32 covers more than 60 tax provisions for 2026: tax rate schedules, standard deductions, credit thresholds, phase-out ranges, and a whole lot more that shows up directly on the returns you prepare every day.

Now, here’s what makes this year different. The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, is the biggest tax legislation this country has seen since the Tax Cuts and Jobs Act of 2017. And if you remember how much the TCJA changed things, buckle up, the OBBBA picks up right where it left off. The OBBBA permanently extends the individual tax provisions from the TCJA that were previously set to expire, ending years of uncertainty for taxpayers and practitioners alike and adds a substantial set of new provisions on top of that foundation. New above-the-line deductions for tip income, overtime pay, and auto loan interest. A larger, permanent Child Tax Credit. An enhanced deduction for seniors. A raised SALT cap. Reinstated 100% bonus depreciation. The OBBBA touches nearly every domain of this course, and it is woven throughout accordingly.

The 2026 adjustments covered in this course generally apply to individual income tax returns filed in 2027 for taxable year 2026.

Before we get started, one quick reference to note: when this course states “the Code,” that means the Internal Revenue Code of 1986. All “section” or “§” references point to provisions of the Code unless stated otherwise.