2026 is a transformative year for tax and financial leaders. From sweeping federal legislation like the One Big Beautiful Bill Act (OBBBA) to evolving state tax conformity and new financial disclosure mandates, private companies face mounting demands to not only comply but to lead with clarity and strategy. 

The good news? With the right planning, processes, and people, this complexity can become a catalyst for stronger operations and smarter decisions. 

Key Takeaways for Private Companies: 

• Modernization is no longer optional: Upgrading tax technology, automating reporting workflows, and strengthening internal controls will be essential to meeting new compliance requirements — from ASC 740 to ASU 2023-09. 

• State and local tax (SALT) strategy is a value driver: Conformity mapping, apportionment reviews, and transfer pricing alignment are more than compliance exercises — they’re opportunities to reduce risk and improve your effective tax rate. 

• Tax and HR must collaborate: With new payroll and benefits rules under the OBBBA — including tip/overtime reporting, paid family and medical leave (PFML) credits, and global mobility impacts — cross-functional planning is critical to avoid exposure and unlock tax incentives. 

• Financial statement readiness requires foresight: Retroactive law changes, evolving valuation allowance assumptions, and disaggregated disclosure rules make proactive ASC 740 planning essential for accurate, audit-ready financials. 

• Tax teams need a seat at the table: Whether planning restructures, evaluating compensation programs, or expanding into new markets, involving tax early supports better decisions, better outcomes, and long-term enterprise value. 

Empowering Your Tax Function for What Comes Next 

At MGO, we work closely with tax, HR, and finance leaders to help private companies shift from reactive compliance to proactive strategy. Whether you’re adapting to new tax laws, responding to evolving disclosure requirements, or reevaluating your global footprint, our professionals provide the insights and tools to support every stage of your business.