RL Jennings & Associates, PC - Centre

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RL Jennings & Associates, PC - Centre Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from RL Jennings & Associates, PC - Centre, Accountant, 105 Mae Street, Centre, AL.

Full service accounting firm providing bookkeeping, tax preparation for business and individuals, business planning, audit, review and compilation of financial statements.

09/10/2026

# # Client Alert: IRS Announces Conservation Easement Office and Settlement Changes

On **August 19, 2026**, the IRS announced a new **Office of Conservation Easements** to centralize expertise and coordinate policy, enforcement, and case-resolution strategy for conservation and historic preservation easement matters. [IRS establishes Office of Conservation Easements and transitions settlement process | Internal Revenue Service](https://www.irs.gov/newsroom/irs-establishes-office-of-conservation-easements-and-transitions-settlement-process)

The IRS also ended its current **uniform settlement initiative** and will no longer issue additional uniform settlement letters under the May 13 program. Deadlines for accepting previously issued offers have been withdrawn, but prior elections to participate remain in effect and will be processed under their terms. [IRS establishes Office of Conservation Easements and transitions settlement process | Internal Revenue Service](https://www.irs.gov/newsroom/irs-establishes-office-of-conservation-easements-and-transitions-settlement-process)

Taxpayers with pending cases may still request settlement through their assigned IRS examination or Chief Counsel representative. If eligible, the IRS may issue a new offer on the same standardized terms, but the IRS emphasized that this change does **not** signal a new or more favorable settlement offer. [IRS establishes Office of Conservation Easements and transitions settlement process | Internal Revenue Service](https://www.irs.gov/newsroom/irs-establishes-office-of-conservation-easements-and-transitions-settlement-process)

**Practical takeaway:** Taxpayers with pending conservation or historic preservation easement disputes should review their case status, confirm whether any prior settlement election remains in effect, and continue working directly with their IRS or Chief Counsel contact on settlement options. [IRS establishes Office of Conservation Easements and transitions settlement process | Internal Revenue Service](https://www.irs.gov/newsroom/irs-establishes-office-of-conservation-easements-and-transitions-settlement-process)

Celebrating SFC Grider retiring from 40 years of service from the Alabama National Guard. Airborne!
08/10/2026

Celebrating SFC Grider retiring from 40 years of service from the Alabama National Guard. Airborne!

06/09/2026

New Installment Payment Option for Certain Farmland Sales

Taxpayers who sell qualified farmland property to a qualified farmer may be able to elect to pay the federal income tax attributable to the gain in 4 equal installments rather than all at once for the year of sale. This rule does not exclude the gain from income, but it may provide useful cash-flow relief.
To qualify, the property generally must be U.S. real property that, for substantially all of the 10-year period ending on the sale date, was either used by the taxpayer as a farm for farming purposes or leased by the taxpayer to a qualified farmer for farming purposes. The property also must be subject to a covenant or other legally enforceable restriction that bars non-farm use until 10 years after the sale.
The buyer must be an individual actively engaged in farming, because that is how § 1062 defines a qualified farmer.
The election must be made no later than the due date of the return for the year of sale, and the taxpayer must attach a copy of the required covenant or restriction to that return. If the sale is made through a partnership or S corporation, the election is made at the partner or shareholder level.
The first installment is due on the original return due date, without extensions, and the remaining 3 installments are due on the original due dates for the following years. If an installment is not timely paid, the remaining unpaid installments can accelerate immediately.

Bottom line
This new rule may benefit landowners selling farmland, but eligibility depends on careful compliance with the farm-use history, qualified buyer, and 10-year restriction requirements.

05/11/2026

New Installment Payment Option for Certain Farmland Sales

Taxpayers who sell qualified farmland property to a qualified farmer may be able to elect to pay the federal income tax attributable to the gain in 4 equal installments rather than all at once for the year of sale. This rule does not exclude the gain from income, but it may provide useful cash-flow relief.
To qualify, the property generally must be U.S. real property that, for substantially all of the 10-year period ending on the sale date, was either used by the taxpayer as a farm for farming purposes or leased by the taxpayer to a qualified farmer for farming purposes. The property also must be subject to a covenant or other legally enforceable restriction that bars non-farm use until 10 years after the sale.
The buyer must be an individual actively engaged in farming, because that is how § 1062 defines a qualified farmer.
The election must be made no later than the due date of the return for the year of sale, and the taxpayer must attach a copy of the required covenant or restriction to that return. If the sale is made through a partnership or S corporation, the election is made at the partner or shareholder level.
The first installment is due on the original return due date, without extensions, and the remaining 3 installments are due on the original due dates for the following years. If an installment is not timely paid, the remaining unpaid installments can accelerate immediately.
Bottom line
This new rule may benefit landowners selling farmland, but eligibility depends on careful compliance with the farm-use history, qualified buyer, and 10-year restriction requirements.

03/01/2026

Agriculture Secretary Brooke Rollins outlines deregulation, trade deals, lower costs, biofuels and safety net as key focus areas for 2025.

03/01/2026

Markets break down as February ends badly

01/23/2026

Trump Accounts:
The OBBBA creates a new type of tax-deferred investment account for children under age 18, known as a Trump Account. These accounts are structured as non-Roth IRAs for the exclusive benefit of minors.
A child must be a U.S. citizen with a valid SSN to qualify.
Contributions to a Trump Account must be made before the child turns 18, and distributions may begin in the year the child turns 18.
The annual contribution limit is $5,000 per beneficiary.
A $1,000 one-time federal contribution will be made to Trump Accounts for eligible children born between January 1, 2025, and December 31, 2028.
The OBBBA also provides a $1,000 tax credit to individuals who open accounts for eligible newborns during this period.
Contributions can be made after July 4, 2026.

01/23/2026

Form 1099 Reporting Thresholds: The OBBBA raises the longstanding $600 threshold for reporting payments to nonemployees.
For payments made after December 31, 2025, the general reporting threshold increases from $600 to $2,000

01/21/2026

What tips are deductible under the Big Beautiful Bill?
Qualifying tips
You and your significant other eat at a restaurant. When the bill comes, you voluntarily leave a 20% tip, either in cash left on the table, or on a credit card. This is an example of a tip which qualifies for a deduction.
Non-Qualifying Tips
Your family has its annual family reunion at a local restaurant. Twenty people attend. The restaurant automatically adds an 18% gratuity charge to the bills of large parties. The restaurant calls this a tip and gives it to the server — doesn’t matter, it’s not a voluntary tip and thus doesn’t qualify for the deduction.

01/08/2026

Organized tax records make preparing a complete and accurate tax return easier. It helps you avoid errors that can slow your refund and may also help you find overlooked deductions or credits.

Wait to file until you have your tax records including:

Forms W-2 from your employer(s)
Forms 1099 from banks, issuing agencies and other payers including unemployment compensation, dividends, pension, annuity or retirement plan distributions
Form 1099-K, 1099-MISC, W-2 or other income statement if you worked in the gig economy
Form 1099-INT if you were paid interest
Other income documents and records of digital asset transactions
Form 1095-A, Health Insurance Marketplace Statement, to reconcile advance payments or claims for Premium Tax Credits for 2022 Marketplace coverage
IRS or other agency letters
CP01A Notice with your new Identity Protection PIN
Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

unemployment income,
interest received,
income from the gig economy, and
digital assets.

Address

105 Mae Street
Centre, AL
35960

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

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