The 2026 tax season brings several significant changes that businesses of all sizes need to prepare for. Our tax advisory team at Plenus has compiled the most impactful updates to help you stay ahead.
Revised Corporate Tax Deductions
Starting in the 2026 fiscal year, the standard corporate deduction thresholds have been adjusted. Small businesses with annual revenues under $5 million will see an increased standard deduction, while mid-size companies may need to reevaluate their deduction strategies.
- Standard deduction increased by 3.2% for qualifying small businesses
- New R&D tax credit provisions for technology investments
- Updated depreciation schedules for commercial real estate
- Revised employee benefit deduction caps
Filing Deadline Changes
The IRS has announced updated filing deadlines for several business entity types. Partnerships and S-corporations should take special note of the revised March filing windows.
Early preparation is the key to maximizing your tax benefits. We recommend starting your documentation review no later than February to ensure a smooth filing process.
International Tax Considerations
For businesses with international operations, the 2026 changes to transfer pricing regulations and foreign tax credit calculations are particularly noteworthy. PKF Plenus, as a member of the PKF Global network, is uniquely positioned to help navigate these cross-border complexities.
Our team of certified public accountants and international tax specialists can provide tailored guidance for your specific situation. Contact us to schedule a consultation.
For questions about how these changes affect your business, please reach out to our tax advisory team at PKF Plenus.