As busy season rolls into March,
Top areas of concern this tax season
Published March 10, 2026 9:00 AM
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Updated March 10, 2026 12:25 PM
1 Min Read
Do I qualify?
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Fortunately, Stephen Mankowski, founder of Hatboro, Pennsylvania-based Mankowski Associates CPA, has carefully read through the legislation and said there are misconceptions about which taxpayers will benefit from the deductions.
For example, contrary to the discourse he has heard, "if they are only for the wealthy, then how do you then quantify the no tax on tips, no tax on overtime, the senior deduction, car loan dedication, all items benefitting [the] middle class and down?" Mankowski asked.
He is then pleased to tell some clients who would not think they benefit from the tax breaks that they in fact do.
"One I feel helped a large number of taxpayers," he continued, "is the provision some would say helps the wealthy, has the same impact on even small business owners — the ability to buy a piece of equipment and take a bonus depreciation in year one, for the supplies [that could be purchased for] me and my business as much as to Tesla or any other large company. It's the same across the board."
Inquiring seniors
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"Seniors want to know if they got the new senior deduction," reported Sandra Johnson, CEO of Bellmore, New York-based Johnson CPA. "Some older clients are confused whether or not to do Roth conversions as they don't want to lose the senior deduction."
The senior deduction is an additional $6,000 deduction available to qualifying seniors.
Meanwhile, senior clients come into Mankowski Associates CPA with an equal amount of confusion that can often become satisfaction.
"I've seen so far through this season, a number of people we tend to see earlier want to know are they going to owe or want to get refunds — many are pleasantly surprised," said Mankowski. "They either didn't fully understand the impact of the senior deduction or are now realizing the full impact."
Timing Social Security
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"Should they consider electing early opt in for Social Security benefits," Andrea Parness, owner of Belle Harbor, New York-based A. Parness Co. CPA, identified as a common query. "As we do share screen appointments, we can run various tax-related scenarios. We also discuss other cash flow/emergency funding options as early opt-in reduces their future monthly benefits for life."
The state of the IRS
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"The cutbacks in the IRS; how much knowledge walked out the door with that?" posited Neil Fishman, principal of Boynton Beach, Florida-based Fishman Associates CPAs. "A lot of information walked out the door with the IRS. It's a great concern."
Extra credits
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When asked what A. Parness Co. clients are contacting her about, Parness reported: "Are there any tax benefits to the home improvements made this year?"
"I focus back to energy credit improvements — we have a question regarding this on our annual checklist/questionnaire — we discuss how these improvements affect their current or future tax situation during our exit appointment," she continued.
Johnson is witnessing the same at her practice — along with the complexity these breaks bring.
"Regarding energy credits, all the extra hoops [we have to] jump through for this" was one challenge she identified. "We have to have so much more documentation, numbers."
Inheritance and estate
Meanwhile, inheritance and estate issues are also present for individual clients, including those served by Parness.
"Inherited living trust property from a recently deceased parent — we discuss potential sale or rental of the property," Parness explained. "How much money can they gift — we have a worksheet for this. When appropriate, we can prepare a gift tax return for them. We explain that it is an information filing. There is no current tax ramification. Their gifting might affect their total exempt amount for inheritance purposes."
"Inherited living trust property from a recently deceased parent — we discuss potential sale or rental of the property," Parness explained. "How much money can they gift — we have a worksheet for this. When appropriate, we can prepare a gift tax return for them. We explain that it is an information filing. There is no current tax ramification. Their gifting might affect their total exempt amount for inheritance purposes."
