The CPA REG Exam is changing dramatically in July 2026 as the AICPA begins testing candidates on the One Big Beautiful Bill (OBBB) starting July 1, 2026.
REG Topics Being Tested
Some of the topics that will be tested in REG include:
- Tip and Overtime Deduction
- Auto Loan Interest Deduction
- Charitable Contribution Deduction
- State and Local Income Tax Deduction (SALT)
- Senior Deduction
- Dependent Care Credit
- Family and Child Tax Credit
- Trump Savings Accounts
Here is a video taken from the i75 REG (July 2026) course on Trump Savings Accounts. Testing for this concept and others will begin on July 1, 2026.
Trump Savings Accounts: Key Points
- Designed to give every child a savings vehicle starting from birth.
- Intended to help save for retirement, education, home ownership, starting a business, or other qualified uses later in life.
- Up to $5,000 can be contributed annually (adjusted for inflation) up to age 18, plus a one-time $1,000 government seed for children born 2025 through 2028.
- Parent contributions are not deductible.
- Employers are encouraged to contribute up to $2,500 (before inflation adjustments), deductible by the employer and not taxable to the employee.
- Investment choices include index funds or ETFs that track broad U.S. market indices.
- The account cannot invest in individual stocks or sector funds.
- Distributions can begin once the child reaches age 18.
- Earnings are taxable as ordinary income regardless of use.
- Principal (parent contributions) is not taxable when distributed.
- A penalty can apply to earnings distributed before age 59.5 if not used for qualified purposes.
- Qualified uses include education, first-time home purchase, medical, birth or adoption of a child, and natural disaster recovery.
- Other non-qualified uses before age 59.5 involve a 10 percent penalty in addition to ordinary income taxation on earnings.
Watch this video on Trump Savings Accounts taken from the i75 REG (July 2026) course.