Federal Tax Updates

By Roger Harris, EA and Annie Schwab, CPA

CPAs, Enrolled Agents, and Tax Preparers can keep up-to-date with the latest federal tax information while earning NASBA approved CPE credits and IRS approved CE credits by listening to the bi-weekly ... more

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FAQs about Federal Tax Updates:

How many episodes does Federal Tax Updates have?

The podcast currently has 58 episodes available.

Federal Tax Updates episodes:

April 07, 2025Replay: Surviving a Cyber Attack
In this episode, Roger sits down with Catharine Madeley, a tax practitioner who recently experienced a data breach at her firm. Catherine shares her firsthand account of how the breach unfolded, the steps she took to respond, and the lessons she learned along the way. She offers valuable insights into the importance of having a robust cybersecurity plan, the critical role of communication with clients, and the need to be proactive in protecting sensitive client information.
*This is a replay of an episode that originally aired in March, 2024.
(00:00) - Welcome to the Federal Tax Updates Podcast
(01:30) - Introducing Our Guest: Catharine Madeley
(03:26) - The Harrowing Tale of a Data Breach
(04:29) - The Initial Discovery and Immediate Response
(14:36) - Navigating the Aftermath: Investigation and Recovery
(23:42) - Reflections and Lessons Learned from the Cybersecurity Incident
(25:58) - The Aftermath of a Data Breach: A Personal Account
(26:45) - Law Enforcement's Response to Small Scale Breaches
(28:36) - Navigating IRS Procedures After a Breach
(29:51) - The IRS Practitioner Relief Opt-In Program: A Lifeline
(32:42) - Client Communication and Response to the Breach
(42:55) - Lessons Learned and Moving Forward
(49:28) - Final Thoughts and Advice

Connect with Catharine Madeley
LinkedIn: https://www.linkedin.com/in/catharine-drake-madeley
Website: https://www.sallingcpa.com
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 Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
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This podcast is a production of the Earmark Media
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.
...more
51min
March 24, 2025Circular 230 Changes: What Practitioners Need to Know
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Roger and Annie welcome guest Bob Kerr to discuss proposed changes to Circular 230, the regulations governing practice before the IRS. They explore contentious issues including contingent fees being classified as "disreputable conduct," expanded rights for non-credentialed preparers, and new requirements for reporting client errors. Bob shares insights from the recent hearing and explains why practitioners shouldn't expect final regulations until at least 2026.
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(00:00) - Welcome to Federal Tax Updates
(02:20) - Introducing Special Guest Bob Kerr
(03:32) - Overview of Circular 230
(04:59) - Proposed Changes to Circular 230
(15:17) - Contingent Fees Debate
(30:30) - Limited Practice Discussion
(36:22) - Voluntary IRS Programs and Their Impact
(38:10) - Competency and Practitioner Requirements
(39:33) - Knowledge of Errors and Omissions
(42:31) - Proposed IRS Regulations and Practitioner Responsibilities
(49:41) - Best Practices and Circular 230
(57:30) - Conclusion and Future Expectations

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 Bob Kerr
https://kerr.tax/about-us/
https://www.linkedin.com/in/kerr-robert
Connect with the Roger and Annie on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

Review
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This podcast is a production of the Earmark Media
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1h 1min
March 11, 2025BOI Relief, Tax Reform, and IRS Restructuring
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

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.
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(00:00) - Introduction and Welcome
(02:04) - BOI Reporting Updates
(02:50) - Corporate Transparency Act Penalties
(05:46) - Guidance for Clients on BOI Compliance
(11:03) - Government Shutdown Concerns
(15:27) - Reconciliation and Tax Reform Process
(26:15) - Debating the Impact of Tariffs
(26:57) - Abolishing the IRS: Feasible or Fantasy?
(29:08) - IRS Workforce Cuts: Immediate Implications
(29:54) - Challenges of Tax Season Amid Workforce Reductions
(32:39) - Potential Tax Reforms and Technological Advancements
(45:31) - Common Tax Filing Mistakes to Avoid
(47:58) - Upcoming Changes to Circular 230
(51:19) - 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
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Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!
This podcast is a production of the Earmark Media
...more
54min
February 24, 2025IRS Upheaval: Staff Cuts, BOI Updates, and Filing Season Insights
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Roger and Annie explore major changes affecting tax professionals in early 2024, including significant staffing changes at the IRS and ongoing uncertainty around Beneficial Ownership Information (BOI) reporting requirements. They break down the new 1099-K reporting thresholds and explain how to handle various transaction types, from business payments to personal item sales. The hosts also discuss current legislative proposals and share practical insights for handling common client questions about taxable income and deductions during tax season.
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(00:00) - Welcome to Federal Tax Updates
(02:30) - Tax Reform and Legislative Updates
(07:05) - IRS Hiring and Workforce Changes
(13:12) - Beneficial Ownership Reporting Updates
(20:34) - Employer Retention Credit Updates
(23:42) - 1099K Reporting Changes
(30:15) - Understanding Ticket Transactions
(31:39) - Client Misconceptions and IRS Blame
(33:27) - Filing Season Insights
(38:46) - Common Tax Questions
(49:32) - Proposed Tax Legislation
(54:03) - Conclusion 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
56min
February 10, 2025IRS Funding, Tax Gaps, and Modern Tech
Former IRSAC Chair Annette Nellen joins Roger and Annie to discuss critical challenges facing the IRS and tax administration. The conversation explores the growing tax gap, the importance of consistent IRS funding, and efforts to modernize taxpayer services through online accounts and digital solutions. The discussion also delves into proposals for tax preparer regulation, continuing education requirements for enrolled agents, and the complexities of implementing cryptocurrency reporting requirements.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:35) - Introducing Special Guest Annette Nellen
(02:26) - Understanding the ERSAC Annual Report
(05:40) - Deep Dive into the Tax Gap
(07:52) - IRS Funding and Its Impact
(19:04) - Tax Literacy and Education Challenges
(25:48) - Modernizing the IRS and Funding
(30:33) - IRS Hiring Challenges and Misconceptions
(31:48) - Impact of Potential Hiring Freeze
(33:28) - IRS Strategic Operating Plans and Online Accounts
(36:50) - Technological Advancements and Challenges
(43:44) - Practice Management and Professional Development
(47:48) - Regulating Tax Return Preparers
(52:17) - Digital Currency and Cryptocurrency Regulations
(55:19) - Conclusion and Final Thoughts

Connect with Annette Nellen
https://www.linkedin.com/in/annette-nellen-7448824
IRSAC Report
https://www.irs.gov/pub/irs-pdf/p5316.pdf
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
57min
January 27, 2025Tax Season Kickoff
Roger and Annie dive into the complex political dynamics shaping potential tax reform in 2025, breaking down the strategic implications of pursuing one comprehensive bill versus two separate pieces of legislation. They provide critical updates on the ever-changing BOI regulations, including recent court injunctions and what practitioners should do while awaiting final resolution. The episode concludes with practical advice for tax professionals preparing for the upcoming tax season, covering everything from research tools and client management to pricing strategies and work-life balance.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:27) - Weather Woes and Tax Season Kickoff
(02:09) - Political Landscape and Tax Legislation
(03:20) - Tax Cuts and Jobs Act Discussion
(06:38) - One Bill vs. Two Bills Debate
(13:47) - BOI Updates and Legal Battles
(24:48) - Employee Retention Credit Issues
(29:44) - Taxpayer Advocate's Annual Report Insights
(31:47) - Persistent IRS Issues and Proposed Solutions
(33:18) - Regulating Tax Preparers: A Growing Need
(37:21) - Preparing for the Upcoming Tax Season
(41:01) - Client Management and Workload Optimization
(45:21) - Research Tools and Online Resources
(55:10) - Conclusion and Upcoming Topics

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
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This podcast is a production of the Earmark Media
...more
56min
January 13, 2025Crypto for Tax Pros
Crypto tax expert Amir Marmar of JFDI Accountants breaks down the complexities of cryptocurrency taxation and shares guidance on when tax professionals should handle crypto cases themselves versus partnering with specialists. He explains key concepts like wallet-level reporting requirements coming in 2025, the challenges of DeFi and staking transactions, and why traditional tax software may not be enough for complex crypto cases. This episode provides practical insights for tax professionals on evaluating crypto clients and understanding the latest IRS guidance, including Revenue Procedure 2024-28's move away from universal accounting methods.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:56) - Amir Marmar's Background and Expertise
(03:04) - Crypto Accounting Challenges and Success Stories
(07:49) - Crypto-Friendly Government Policies
(14:06) - Understanding Crypto Wallets
(23:36) - Blockchain Basics and Tax Implications
(29:38) - Complexities in Crypto Taxation
(37:19) - Understanding Lending Protocols and Tax Implications
(39:24) - Exploring Staking and Its Tax Considerations
(41:11) - Liquidity Pools and Market Making
(43:01) - Challenges in Crypto Accounting
(44:11) - IRS Guidance and Tax Positions
(46:02) - The Role of Tax Professionals in Crypto
(49:39) - Steps for Successful Crypto Tax Engagements
(52:50) - Upcoming Changes in Crypto Tax Reporting
(01:04:53) - Contacting JFDI for Crypto Tax Help

Connect with Amir
https://www.jfdiaccountants.com/
https://www.linkedin.com/in/amir-marmar-20b76726
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
1h 9min
December 30, 2024 Achieve 10X Growth for Your Firm: The Firm Owner's Playbook
Three successful accounting firm owners share their journeys from small practices to achieving 10X revenue growth. Through candid conversations about hiring strategies, systemization, and community support, these Padgett franchise owners reveal practical insights for scaling an accounting practice. Their experiences highlight how strategic hiring, building scalable systems, and embracing a growth mindset transformed their firms from six-figure to multi-million dollar enterprises.
Webinar Speakers
Jeff Phillips - https://www.linkedin.com/in/jeffaccountingfly
Janet Kaup - https://www.linkedin.com/in/janet-kaup-2238643
Jeff Darley - https://www.linkedin.com/in/jeff-darley-77839b2
Tom Friedel - https://www.linkedin.com/in/tom-friedel-cpa-ab71435

Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.
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
53min
December 16, 2024Tax Season 2025: Changes, Challenges, and Uncertainties
Annie and Roger discuss crucial tax updates as 2024 draws to a close, including the recent injunction against beneficial ownership reporting requirements, the evolving landscape of ERC claims processing, and changes to the clean vehicle credit program. They examine how the recent election results might impact tax policy, particularly regarding the Tax Cuts and Jobs Act provisions set to expire. They also provide practical guidance for tax practitioners preparing for the 2025 filing season, addressing important changes to 1099-K reporting thresholds and IP PIN requirements.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Federal Tax Updates Episode 44
(02:35) - 2025 Tax Season Preparation
(05:12) - Tax Rates and Deductions for 2024
(09:17) - Business Tax Considerations
(11:40) - Post-Election Tax Policy Changes
(17:16) - IRS Updates and New Policies
(20:52) - 1099-K Reporting Changes
(24:35) - Clean Vehicle Credit
(26:46) - Understanding the Dealer Credit Loophole
(27:39) - Navigating EV Tax Credits
(31:01) - IRS Processing and Challenges
(36:35) - Potential Changes in IRS Leadership
(43:17) - Beneficial Ownership Reporting Injunction
(49:12) - Conclusion 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
51min
November 25, 2024Post-Election Tax Landscape
Capitol Hill insider Thad Inge joins Roger Harris to unpack how the election results could reshape major tax policy decisions in 2024 and beyond. The discussion explores the potential fate of expiring Trump-era tax cuts, the future of IRS funding, and the complex political dynamics that will influence tax reform under Republican control. Thad provides unique insights into the budget reconciliation process, key congressional players, and offers tax practitioners valuable context on potential legislative changes and political realities that could affect their practice and clients.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Thad Inge Joins Roger for Federal Tax Updates
(01:57) - Election Impact on Tax Policy
(05:03) - Republican Strategies and Budget Reconciliation
(09:23) - Deficit Debates and Revenue Raising
(20:42) - Key Players in Tax Reform in Congress
(26:21) - IRS Funding and Future Outlook
(32:58) - Commissioner Werfel's Tenure and Challenges
(39:16) - Beneficial Ownership Reporting
(47:58) - Senate Office Transitions
(52:28) - Conclusion and Future Outlook

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 Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/
Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

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
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.
...more
54min

FAQs about Federal Tax Updates:

How many episodes does Federal Tax Updates have?

The podcast currently has 58 episodes available.

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