contents May 2026 • Vol. 97 • No. 5 PLUS 42 2026 OBA Awards: Recognize an Attorney Who Has Made a Significant Impact By Stephen D. Beam 46 Celebrate Law Day 2026 By Mary Clement and Ed Wunch 50 Law Day 2026 Contest Winners Highlights 54 Register Now for the Midyear Conference 59 Heroes Day 2026: Save the Date to Volunteer! 60 Oklahoma High School Mock Trial Program Thanks This Year’s Volunteers THEME: Taxation Editor: Melissa DeLacerda FEATURES 8 Business Tax Basics: The Boring (but Essential) Side of Entrepreneurism By Marina Wise 14 The Big, Beautiful Bill and the American Taxpayer: The Tax Changes Americans Need To Know By Shiny Mathew 18 Opening the Envelope: How To Identify, Triage and Respond to the Most Common IRS Notices By Ambrielle Glass 24 Modernizing the §1031 Exchange: Leveraging Delaware Statutory Trusts To Serve Clients By John Newhouse and Ben Newhouse 34 Event Contracts and the 2026 Wagering Loss Limitation: A Tax and Federalism Note for Oklahoma Practitioners By Jay P. Eischen DEPARTMENTS 4 From the President 6 Bar News in a Minute 64 From the Executive Director 66 Law Practice Tips 70 Board of Governors Actions 72 Oklahoma Bar Foundation News 76 Young Lawyers Division 78 Bench & Bar Briefs 80 In Memoriam 83 Editorial Calendar 84 Classified Ads PAGE 46 – Celebrate Law Day 2026
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