Western PA: Federal Income Tax Update 2025

Retirement Tax Issues

Topics include the following:

• New guidance for required minimum distributions from inherited retirement accounts

• Designating a trust as a beneficiary of a retirement account

• Roth IRAs

• Designated Roth contributions and the Roth catch-up rule

• Retirement account disaster distributions

• ABLE Accounts

 • Education savings account rollovers to Roth

• Qualified charitable distributions 

New Legislation

Approximately 4 hours of the session will be devoted to an in-depth explanation of the most important provisions of H.R.1 (aka the One Big Beautiful Bill). 

Business Entity Tax Issues

This presentation examines current issues that pertain to business entities, including the determination of basis and holding period of assets contributed to a corporation or a partnership. Mark will explain new case law that could impact the character of gain or loss on the sale of a partnership interest. He will also provide an overview of the reporting requirements for property distributed by a partnership and the sale or exchange of certain partnership interests. Finally, the presentation will provide an overview of taxation and reporting for a homeowners association.