REG study guide
Regulation, Taxation, Business Law, and Ethics
Updated for the One Big Beautiful Bill Act (OBBBA)
OBBBA tax provisions become testable on REG starting July 1, 2026, permanent 100% bonus depreciation, the $2.5M Section 179 limit, a permanent QBI deduction, the $40,000 SALT cap, and more. Our lessons teach the new law and flag the cutoff.
Mock exam
33 questions · exam conditions · full breakdown
Review queue
Spaced repetition, wrong answers resurface automatically
Task-based simulations
NewWork realistic REG case studies, depreciation schedules, gain/loss character, entity basis, with exhibits and auto-graded answers.
Study modes
Skip to what you need, MCQs only or simulation strategy only.
Section 1
Ethics, Professional Responsibilities, and Federal Tax Procedures
10–20% of the REG exam
Covers Circular 230 and AICPA tax standards, licensing and discipline, federal tax procedures, statutes of limitations, penalties, and the legal duties and liabilities of tax practitioners.
Section 2
Business Law
15–25% of the REG exam
Covers contracts, agency, debtor-creditor relationships and secured transactions under UCC Article 9, bankruptcy, and the legal structure and governance of business entities.
Section 3
Federal Taxation of Property Transactions
5–15% of the REG exam
Covers the basis and cost recovery of assets, capital vs. ordinary gains and losses, Section 1231 and depreciation recapture, and tax-deferred exchanges.
Section 4
Federal Taxation of Individuals
22–32% of the REG exam
Covers gross income and filing status, adjustments and deductions including QBI, individual credits and the AMT, and the loss limitation ordering rules.
Section 5
Federal Taxation of Entities
23–33% of the REG exam
Covers C corporations, S corporations, partnerships, and the taxation of estates, gifts, and trusts, formation, operations, basis, distributions, and reporting.