Federal Tax Updates

BOI Relief, Tax Reform, and IRS Restructuring

Listen Later

Roger and Annie provide critical updates on the Treasury Department's decision to halt Corporate Transparency Act penalties and enforcement requirements, bringing relief to tax practitioners and their clients. They break down the six-step reconciliation process for tax reform, offering clarity on where current legislation stands and what might be coming. The hosts also discuss concerns about potential IRS workforce reductions, upcoming technology improvements, and preview changes to Circular 230 regulations that will impact tax practice management.

Sponsors
Padgett -  Contact Padgett or Email Jeff Phillips


  • (00:00) - Introduction and Welcome
  • (01:48) - BOI Reporting Updates
  • (02:34) - Corporate Transparency Act Penalties
  • (05:30) - Guidance for Clients on BOI Compliance
  • (10:47) - Government Shutdown Concerns
  • (15:15) - Reconciliation and Tax Reform Process
  • (26:03) - Debating the Impact of Tariffs
  • (26:45) - Abolishing the IRS: Feasible or Fantasy?
  • (28:56) - IRS Workforce Cuts: Immediate Implications
  • (29:42) - Challenges of Tax Season Amid Workforce Reductions
  • (32:27) - Potential Tax Reforms and Technological Advancements
  • (45:19) - Common Tax Filing Mistakes to Avoid
  • (47:46) - Upcoming Changes to Circular 230
  • (51:07) - Wrapping Up and Final Thoughts

    • Get NASBA Approved CPE or IRS Approved CE
    Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.

    Connect with the Roger and Annie on LinkedIn
    https://www.linkedin.com/in/rogerharrispbs/
    https://www.linkedin.com/in/annie-schwab-852418261/

    Review
    Leave a review on Apple Podcasts or Podchaser

    Subscribe
    Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

    This podcast is a production of the Earmark Media

    ...more
    View all episodesView all episodes
    Download on the App Store
    Federal Tax UpdatesBy Roger Harris, EA and Annie Schwab, CPA
    • 4.9
    • 4.9
    • 4.9
    • 4.9
    • 4.9

    4.9

    32 ratings

    More shows like Federal Tax Updates

    View all
    WSJ Your Money Briefing by The Wall Street Journal

    WSJ Your Money Briefing

    1,725 Listeners

    Main Street Business by Mark J Kohler and Mat Sorensen

    Main Street Business

    583 Listeners

    PwC's accounting podcast by PwC

    PwC's accounting podcast

    178 Listeners

    Your Money, Your Wealth by Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

    Your Money, Your Wealth

    810 Listeners

    Tax Smart Real Estate Investors Podcast by Hall CPA

    Tax Smart Real Estate Investors Podcast

    424 Listeners

    Talking Tax by Bloomberg Tax

    Talking Tax

    110 Listeners

    NerdWallet's Smart Money Podcast by NerdWallet Personal Finance

    NerdWallet's Smart Money Podcast

    868 Listeners

    Tax Notes Talk by Tax Notes

    Tax Notes Talk

    89 Listeners

    The Accounting Podcast by Blake Oliver & David Leary

    The Accounting Podcast

    336 Listeners

    Small Business Tax Savings Podcast by Mike Jesowshek, CPA

    Small Business Tax Savings Podcast

    253 Listeners

    The Long View by Morningstar

    The Long View

    905 Listeners

    Ready For Retirement by James Conole, CFP®

    Ready For Retirement

    810 Listeners

    The Long Term Investor by Peter Lazaroff

    The Long Term Investor

    148 Listeners

    On Investing by Charles Schwab

    On Investing

    310 Listeners

    Tax in Action: Practical Strategies for Tax Pros by Jeremy Wells, EA, CPA

    Tax in Action: Practical Strategies for Tax Pros

    12 Listeners