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 52 episodes available.

Federal Tax Updates episodes:

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/

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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
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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
November 11, 20241099-K Thresholds, Crypto Reporting, and the Future of IRS Filing
Special guest Wendy Walker, VP of Regulatory Affairs at Sovos and Chair of IRSAC's Information Reporting Committee, breaks down the latest developments in 1099-K reporting thresholds and the upcoming 1099-DA form for digital assets. The discussion explores the practical challenges facing tax professionals as payment platforms struggle with reporting requirements, while also examining how the IRS is modernizing its systems to handle electronic filing.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(02:04) - Special Guest Introduction: Wendy Walker
(03:14) - Discussion on IRS Advisory Council and Information Reporting
(04:28) - Deep Dive into 1099K Reporting
(05:43) - Challenges and Uncertainties in 1099K Reporting
(08:46) - Impact on Taxpayers and Tax Professionals
(11:43) - Platform Issues and Reporting Complexities
(25:12) - IRS Matching and Compliance
(27:07) - Future of Electronic 1099s
(29:24) - New 1099 DA Form Explained
(30:10) - Challenges with Current Reporting
(32:22) - Future of Cryptocurrency Reporting
(40:36) - IRS Modernization Efforts
(50:48) - Wrap Up and Future Plans

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 Wendy Walker
https://www.linkedin.com/in/wendy1099
Connect with the Hosts 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
52min
October 28, 2024What You Need to Know About Beneficial Ownership Information Reporting | Part 2
In Part 2 of their BOI series, Roger and Annie tackle the most challenging aspects of beneficial ownership reporting requirements, focusing on determining who qualifies as a beneficial owner and the significant penalties for non-compliance. They dissect FinCEN's FAQs about substantial control while highlighting concerning gray areas that could put both business owners and tax professionals at risk. The discussion provides critical guidance for practitioners considering whether to offer BOI services, emphasizing protection strategies like engagement letters and insurance coverage given the potential $591 daily penalties and criminal consequences.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:41) - Overview of Beneficial Ownership
(02:43) - FAQs and Compliance Guide
(06:34) - Reporting Requirements and Deadlines
(14:26) - Defining Beneficial Owners
(17:01) - Indicators of Substantial Control
(29:18) - Accountants and Lawyers as Beneficial Owners
(32:40) - Clarifying Beneficial Ownership
(33:51) - Community Property and Beneficial Ownership
(35:02) - FinCEN's Approach to Reporting
(37:13) - Penalties and Enforcement
(42:11) - Practical Implications for Accountants
(52:59) - FinCEN Identifiers Explained
(55:47) - Final Thoughts and Recommendations

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
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
59min
October 21, 2024What You Need to Know About Beneficial Ownership Information Reporting | Part 1
In part 1 of this 2-part series, Annie and Roger dive into the complexities of the new Beneficial Ownership Information (BOI) reporting requirements. They discuss who needs to file, key deadlines, and potential risks for tax professionals assisting clients with compliance. The hosts emphasize the importance of understanding the current guidance, primarily based on FAQs, and highlight areas where interpretation could lead to legal complications.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(03:34) - Understanding the FinCEN Reporting Requirements
(05:11) - Navigating the FAQs and Compliance Challenges
(09:57) - Filing Requirements and Deadlines
(23:37) - Who Needs to Report? Identifying Reporting Companies
(27:33) - Understanding Reporting Company Criteria
(29:43) - Sole Proprietorships and Reporting Requirements
(30:59) - Navigating S Corps and HOAs Reporting
(32:37) - Legal Implications and Attorney Involvement
(33:59) - Complex Scenarios and Reporting Obligations
(40:27) - Company Applicant Responsibilities
(45:46) - Filing Requirements and Updates
(50:44) - Conclusion and Next Steps

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
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
52min
October 07, 2024 How Modern Firm Owners are Addressing Common Industry Woes
Zach Warren from Thomson Reuters Institute and Amanda Aguillard from Padgett dive into the pressing challenges facing modern accounting firms, particularly those in the mid-sized range. They explore innovative solutions to the talent shortage, discuss the surprising resilience of time-based pricing, and emphasize the critical role of technology adoption in driving efficiency. This data-driven conversation offers practical insights for firm owners looking to navigate industry pressures and position themselves for sustainable growth.
To earn CPE for this episode, go here: https://www.earmark.app/c/1872
Connect with Zachary Warren, MBA
https://www.linkedin.com/in/zach-warren-19403371
https://www.thomsonreuters.com/en-us/posts/authors/zach-warren
Connect with Amanda Aguillard, CPA CISD
https://www.linkedin.com/in/amandaaguillard
https://www.aguillardaccounting.com
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 1min
September 23, 2024Elections, Tax Changes, and Compliance Deadlines
Roger and Annie discuss the unique challenges tax practitioners face as 2024 draws to a close. They explore the potential impact of the upcoming election on tax law, ongoing issues with the Employee Retention Credit, and the looming deadline for Beneficial Ownership Information reporting. The hosts provide insights on how to approach tax planning amidst uncertainty and offer practical advice for managing client expectations during this complex period.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:46) - Challenges in Tax Planning
(03:07) - Election Impact on Tax Laws
(07:14) - Potential Changes in Tax Provisions
(16:38) - Electric Vehicle Tax Credits
(21:30) - Tax Reform and Future Considerations
(27:02) - Meeting with IRS Commissioner Werfel
(28:24) - IRS Funding and Staffing Challenges
(29:16) - Tax Scams and Fraud Prevention
(32:57) - Employee Retention Credit (ERC) Updates
(40:40) - Beneficial Ownership Information Reporting
(50:22) - End-of-Year Tax Planning and Challenges
(51:54) - Final Thoughts and Wrap-Up

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
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
54min
September 09, 2024Live From The Dallas IRS Tax Forum
Join Roger and Annie on this special episode, as they take you behind the scenes at the IRS National Tax Forum in Dallas. Through interviews with key figures from the IRS, professional associations, and industry leaders, this special episode offers unique insights into the current state of tax practice and policy. Listeners will gain valuable perspectives on critical issues facing tax professionals, including combating tax scams, improving IRS services, and the future of tax preparation standards.
(00:00) - Welcome to Federal Tax Updates
(00:39) - Coming to You Live From the Dallas IRS Tax Forum
(01:56) - Welcome Jeff Phillips to the Show
(16:57) - Welcome Melvin Hardy to the Show
(32:43) - Welcome Christine Freeland to the Show
(47:34) - Welcome Kelly Comegys to the Show
(55:44) - Welcome Alan Pinck to the Show
(01:06:37) - Welcome Nina Tross to the Show
(01:20:53) - Welcome Terry Lemmons to the Show
(01:33:27) - Thanks for Joining Us and Remember to Subscribe!

Thank you to all of our guests:
Jeff Phillips | Padgett | CEO
Melvin Hardy | IRS | Director, Office of National Public Liaison
Nina Tross | NSTP | Liaison for Tax & Advocacy
Terry Lemons | IRS | Chief, Communications & Liaison
Kelli Comegys | NAEA | Senior Director of Strategy & Membership
Christine Freeland | NSA | Senior Advisor
Alan Pinck | Tax Talk Today | Host
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
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
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
1h 35min

FAQs about Federal Tax Updates:

How many episodes does Federal Tax Updates have?

The podcast currently has 52 episodes available.

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