Retirement Tax Services Podcast: Tax Planning in 2026 with Steven Jarvis
Episode Date: January 5, 2026
Host: Steven Jarvis, CPA

Episode Overview

In this solo episode, Steven Jarvis kicks off the new year by reflecting on the major tax planning lessons from 2025 and setting expectations and priorities for 2026. He emphasizes the critical importance of consistent, year-round tax planning for financial professionals and clients, as opposed to scrambling at year-end. Steven guides listeners through practical strategies, recent regulatory changes (notably the impact of the “Big Beautiful Bill Act”), and best practices for communicating tax strategies to clients and their tax preparers. He also previews valuable resources, major events, and opportunities for professional growth in the coming year.

Key Discussion Points and Insights

1. Year-End Reflections: Execution Over Ideas

Timestamp: 01:50 – 05:56

• Steven highlights the "most consistent theme" from the 2025 tax planning season: effective advisors focus not just on strategy creation, but on the execution of plans they’ve developed and refined throughout the year.
• “While December 31st is clearly an important date, for tax planning to be really effective, it needs to be happening throughout the year.” (Steven, 03:39)
• Advisors who were best prepared had already executed, or nearly finished executing, major strategies before year-end, using December for final touches.

Memorable Moment:

"December was about execution. It wasn’t about idea generation. It wasn’t about education in that moment." (Steven Jarvis, 02:41)

2. The Value of Communication: 1099 Letters and Year-End Tax Letters

Timestamp: 05:57 – 14:02

• Jarvis urges advisors to provide tailored 1099 letters or year-end summaries to both clients and their tax preparers, reinforcing the value of actions taken (e.g., “We worked together to put X dollars in your tax-free bucket through a Roth conversion…”).
• Quality control and timely communication (especially about Roth conversions and QCDs) can significantly improve tax reporting accuracy and help avoid penalties.

Key Practical Insight:

• Example of Bob and Sue’s $130,000 Roth conversion in December: Reporting the correct timing of income and estimated payments is crucial to avoid underpayment penalties, necessitating proper use of IRS Form 2210.

Notable Quote:

“We want to make sure we reinforce that value proposition... Because while it’s fun to joke about on podcasts and online, sticking it to Uncle Sam isn’t REALLY the reason anybody leans into consistent tax planning over time. This is about helping clients accomplish goals they’re passionate about.” (Steven Jarvis, 06:28)

Actionable Tip:

• Even though custodians may not implement all IRS codes (like for QCDs) right away, proactive reporting by the advisor can save clients from costly mistakes (double taxation).

3. Qualified Charitable Distributions (QCDs): New Reporting Details

Timestamp: 14:03 – 20:44

• 2025 introduces a new (optional) IRS distribution code for QCDs on Form 1099-R, but few custodians will use it in the first year.
• Advisors should not rely on these codes and should document QCD details for clients. Steven praises the approach of naming separate accounts “Charitable IRA” to clearly distinguish QCD activity.
• “No tax preparer is going to get a 1099-R that says ‘Charitable IRA’ and not pause for at least a second and say, ‘Hey, what the heck’s going on here?’” (Steven Jarvis, 16:43)

Best Practice Highlight:

• Setting up separate, nicknamed accounts for charitable distributions streamlines tracking, reporting, and ensures clients don’t miss out on intended tax benefits.

4. Foundations for Accurate Tax Filing & Remaining 2025 Actions

Timestamp: 20:45 – 22:38

• Advisors are encouraged to ensure proper reporting for any client actions from late 2025, including retirement plan and HSA contributions that may be made before filing deadlines.
• Stress on clear documentation with custodians regarding the intended tax year for contributions.

5. The “Big Beautiful Bill Act” (O3BA) and 2025 Tax Law Changes

Timestamp: 22:39 – 25:29

• Key rules from O3BA now affect the 2025 tax year, notably:
  • Introduction of IRS Schedule 1A for new categories: “no tax on tips,” “no tax on overtime” (subject to thresholds), and the new “enhanced deduction for seniors.”
• Action Step:
  • Advisors should familiarize themselves (and clients) with Schedule 1A and its instructions to prepare for client questions and ensure accurate filings.

Notable Quote:

“Put it on your calendar, take 30 minutes and read through this form... I’m a huge fan of getting our hands on reality and not just doing things in theory.” (Steven Jarvis, 24:09)

• Clients may have misconceptions from media coverage ("Why wasn't my Social Security tax free?"), so advisors must proactively clarify and set expectations.

6. Professional Growth & Resources for 2026

Timestamp: 25:30 – 31:08

• Steven announces several educational opportunities and resources:
  • RTS Desktop Tax Guide: Free, regularly updated reference (downloadable at retirementtaxservices.com).
  • Monthly RTS Webinars: Covering foundational and advanced tax planning principles.
  • Summit 2026: September 27–30, Scottsdale, AZ. Recognized as a top conference for tax-oriented financial advisors. Includes sessions from industry insiders, public speakers like Phil Jones, and a former IRS agent.

Memorable Moment:

• On the value of The Summit and similar events:

  “There’s so much more advisors can be doing. We don’t... need to be scared of the IRS. We need to be proactive... you’re going to leave with the knowledge and the tools... but also with the other skills you need to put that into practice.” (Steven Jarvis, 29:49)

• Steven’s challenge for 2026: Take proactive action, “Put it on your calendar, commit to something that’s going to help you level up this year because this is one of the biggest expenses that your clients will have during their life and certainly in retirement, and an area that you can make a huge difference.” (31:02)

Timestamps of Important Segments

• 01:50 – Year-end reflections: Execution over ideas
• 05:57 – Documenting and communicating tax strategies (1099, year-end letters)
• 13:22 – Case study: Roth conversions, timing, Form 2210
• 15:33 – QCDs, new reporting codes, and practical workarounds
• 22:39 – Key O3BA tax law changes and Schedule 1A
• 25:30 – Resources for 2026: Desktop Tax Guide, webinars, Summit 2026
• 31:02 – Call to action for 2026: Commit, calendar, and take action

Notable Quotes & Speaker Attribution

• Steven Jarvis (03:39):

  "For tax planning to be really effective, it needs to be happening throughout the year."

• Steven Jarvis (06:28):

  "We want to make sure we reinforce that value proposition... This is about helping clients accomplish goals they're passionate about."

• Steven Jarvis (16:43):

  "No tax preparer is going to get a 1099-R that says 'Charitable IRA' and not pause for at least a second and say, 'Hey, what the heck's going on here?'"

• Steven Jarvis (24:09):

  "Put it on your calendar, take 30 minutes and read through this form... I'm a huge fan of getting our hands on reality and not just doing things in theory."

• Steven Jarvis (29:49):

  "There's so much more advisors can be doing. We don't need to be scared of the IRS. We need to be proactive..."

• Steven Jarvis (31:02):

  "Put it on your calendar, commit to something that's going to help you level up this year..."

Summary & Takeaways

• Proactive, consistent planning trumps last-minute year-end scrambles.
• Advisors create enormous value—and reduce mistakes and penalties—by providing detailed, client-specific documentation to tax preparers.
• New IRS forms, codes, and the O3BA bill require close attention and client education.
• Available resources and events can help financial professionals stay ahead and stand apart in the evolving tax landscape.
• Main challenge for 2026: Make tax planning a year-round, action-oriented priority.

Closing Advice:
Steven’s signature sign-off:

“As always, thank you for being here. And until next time, remember to tip your server, not the IRS.” (31:57)