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

4.9

3232 ratings

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about Federal Tax Updates:

How many episodes does Federal Tax Updates have?

The podcast currently has 77 episodes available.

Federal Tax Updates episodes:

June 03, 2024Summer Strategies for Savvy Tax Professionals
In this episode, Roger and Annie discuss a variety of tax-related topics, including updates on the Beneficial Ownership Information (BOI) reporting requirements, and the Employee Retention Credit (ERC). They also cover issues with the postal service causing delays in tax payments reaching the IRS, the benefits of taxpayers and tax professionals setting up online accounts with the IRS, and recent changes to overtime pay thresholds and non-compete clauses. Additionally, they provide tips for tax professionals on what to focus on during the slower summer months, such as working on extension returns, analyzing technology and software, and planning CPE. They close by mentioning the upcoming IRS Tax Forums taking place in various cities across the US.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Introduction and Welcome
(01:04) - Discussion on BOI (Beneficial Ownership Information)
(01:47) - Hearing Insights and Political Dynamics
(05:25) - Legal Challenges and Court Cases
(10:43) - Employee Retention Credit (ERC) Updates
(14:21) - Mail Issues and IRS Processing Delays
(21:06) - New FTC Rules on Non-Compete Clauses
(22:43) - Overtime Protections and Salary Thresholds
(24:49) - Impact of Elections on Business Regulations
(25:15) - Challenges for Small Business Owners
(26:20) - Survey Insights from Tax Season
(28:12) - IRS Online Services Improvements
(30:21) - Benefits of IRS Online Accounts
(36:19) - Summer Strategies for Tax Professionals
(40:00) - Planning for CPE and Technology Updates
(42:28) - Upcoming IRS Forums 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 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
46min
May 20, 2024 Roger Testifies to Congress About The Corporate Transparency Act
Roger testified April 30th, before the House Committee on Small Business. Roger was asked to speak on the small business perspective during a full committee hearing titled, "Under the Microscope: Examining FinCEN's Implementation of the Corporate Transparency Act."
Roger's goal in attending this hearing on behalf of Padgett's firm owners and small business clients was to help clarify the current issues with the implementation of the Beneficial Ownership Information (BOI) reporting requirement that was created under 2021's Corporate Transparency Act (CTA).
This bonus episode does not quality for CPE or IRS CE

Padgett - Contact Padgett or Email Jeff Phillips
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
1h 25min
May 06, 2024Tax Season Reflections
Roger and Annie review how the 2024 tax filing season went, discussing improvements in IRS customer service metrics but also lingering issues like postal delays. They cover key post-filing topics like evaluating firm performance, addressing remaining extensions and IRS notices, and navigating complex new requirements like beneficial ownership reporting. They also provide updates on the Employee Retention Credit program amidst ongoing fraud concerns and talk about preparing for future tax policy changes after the election.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:58) - Post-Tax Season Reflections: IRS Performance and Technological Improvements
(08:06) - Evaluating the Tax Season: Metrics and Client Feedback
(13:58) - Addressing Post-Tax Season Tasks and Planning Ahead
(22:59) - Navigating New Developments: Beneficial Ownership Reporting
(25:25) - Navigating the Complexities of Court Rulings and Association Memberships
(27:00) - Congressional Attention on Implementation Issues
(27:59) - Exploring the Details of Beneficial Ownership Reporting
(28:49) - Challenges and Legalities for Tax Practitioners
(32:47) - The Ongoing Struggle with ERC Claims Processing
(33:41) - Fraud Prevention and the Importance of Accurate Record-Keeping
(36:23) - Addressing the Surge in Fraudulent Claims and Ensuring Compliance
(39:58) - Legislative Updates and Future Tax Policy Discussions
(42:26) - Security Concerns and Protecting Client Data
(47:06) - Wrapping Up: Post-Tax Season Reflections and Looking Ahead

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
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
49min
April 22, 2024Post-Tax Season Tune-Up
After the chaos of tax season, it's the perfect time to evaluate your accounting practice and make changes for a smoother upcoming year. In this episode, Roger is joined by guest Amanda Aguillard to discuss strategies to "right-size" your client roster, optimize technology usage, diversify service offerings, and implement better work-life balance. They share tips on reviewing clients, pricing appropriately, leveraging accounting services beyond tax prep, and avoiding the unhealthy grind culture.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:48) - Meet Amanda Aguilar: A Journey from CPA to IRS Advisory Council Member
(03:10) - Post-Tax Season Reflections: Looking Back to Move Forward
(05:47) - Evaluating Your Practice: The Importance of Client Grading
(10:46) - Achieving Work-Life Balance Through Right Sizing
(16:38) - Embracing Specialization for a More Profitable Practice
(21:29) - The Power of Saying No: Setting Boundaries with Clients
(26:05) - Leveraging Technology for Efficiency and Balance
(27:46) - The Challenge of Vetting Software
(29:11) - The Reality of Clients and Technology Adoption
(30:26) - Making Tough Decisions on Client Technology Use
(33:25) - Evaluating Tax Software: Cost vs. Capability
(38:07) - Diversifying Services Beyond Tax Season
(42:39) - The Value of Accounting Services in the Age of DIY Software
(48:26) - Closing Thoughts: Embracing Change for a Healthier Work-Life Balance

Connect with Amanda Aguillard
LinkedIn: https://www.linkedin.com/in/amandaaguillard

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
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
51min
April 08, 2024Surviving 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.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to the Federal Tax Updates Podcast
(01:14) - Introducing Our Guest: Catharine Madeley
(03:10) - The Harrowing Tale of a Data Breach
(04:13) - The Initial Discovery and Immediate Response
(14:20) - Navigating the Aftermath: Investigation and Recovery
(23:26) - Reflections and Lessons Learned from the Cybersecurity Incident
(25:42) - The Aftermath of a Data Breach: A Personal Account
(26:29) - Law Enforcement's Response to Small Scale Breaches
(28:24) - Navigating IRS Procedures After a Breach
(29:39) - The IRS Practitioner Relief Opt-In Program: A Lifeline
(32:30) - Client Communication and Response to the Breach
(42:43) - Lessons Learned and Moving Forward
(49:16) - 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
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
51min
March 25, 2024Charting Through the 2024 Tax Season Maelstrom
Tax professionals must steer through a complex maelstrom during the 2024 filing season. Roger and Annie serve as experienced guides, helping listeners chart a course around hazards like the Employee Retention Credit squalls, the revised "economic realities" path for worker classification under new Department of Labor rules, and proposed tax law changes including an enhanced Child Tax Credit and R&D deduction restart. With their steady hands on the bridge, preparers can safely navigate these choppy waters.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:11) - Diving Into the Filing Season & Tax Updates
(12:26) - The IRS Perspective on Employee Classification
(17:04) - Navigating Section 530 Relief for Misclassification
(24:05) - The ERC Voluntary Program: A Lifeline for Businesses
(27:08) - The Future of ERC and Legislative Impacts
(30:49) - Navigating Tax Repayment and IRS Policies
(32:24) - Legislative Updates and Tax Season Insights
(36:20) - The Future of Tax Laws and Political Implications
(40:03) - Understanding Beneficial Ownership Reporting
(47:19) - Dealing with 1099K Forms and Client Advisories
(51:56) - Embracing Digital Shifts in Tax Documentation
(53:18) - Thanks for Listening and Parting 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 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
55min
March 12, 2024Corporate Transparency Act Ruled Unconstitutional
In this episode, Roger Harris is joined by special guest Blake Oliver to unpack some of the biggest tax stories making headlines. From a federal court ruling deeming a new business reporting law unconstitutional to the staggering estimates of tax evasion by the wealthy. They also dive into the IRS's foray into direct filing for simple returns, the potential role of AI in tax preparation, and how states rank in their tax climates for businesses.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome To Federal Tax Updates
(00:55) - Special Guest Blake Oliver Joins the Show
(02:20) - Diving into the Controversial Federal Court Ruling on Company Reporting Law
(05:23) - Exploring the Implications of the Unconstitutional Ruling for Small Businesses
(18:38) - IRS's Efforts to Tackle Tax Evasion by Millionaires and Billionaires
(29:37) - The IRS Direct File System: A Move Towards Free Tax Filing
(30:24) - Exploring the IRS's New Tax Filing Program
(31:07) - The Cloud Accounting Podcast Begins
(31:24) - Potential Impact on Tax Preparers
(32:58) - Limitations and Design of the New Tax Tool
(34:38) - The Complex World of Business Returns
(35:54) - AI's Role in Tax Preparation: Hopes and Hurdles
(42:18) - IRS's Paperwork Problem and Electronic Filing
(47:30) - State Business Tax Climate Index: The Best and Worst States
(56:03) - Closing Thoughts and Future Discussions

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

Connect with Blake Oliver
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
57min
March 05, 2024 Excerpt: Corporate Transparency Act Ruled Unconstitutional
Here's an excerpt from next week's Federal Tax Updates podcast, Episode 27. Blake Oliver joins Roger to discuss the latest tax news headlines including how the Corporate Transparency Act has been ruled unconstitutional. Be sure to download the full episode, Monday, March 11, to hear the entire discussion.
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

Connect with Blake
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
18min
February 27, 2024Ready, Set, File! Tax Season 2024 Updates
As tax season kicks off, Annie and Roger discuss tips for practitioners and taxpayers, including using e-file and direct deposit for fastest refunds, being vigilant about IRS scam alerts, reviewing Circular 230 rules on duties and liabilities, and evaluating your processes after April to improve efficiency. They also touch on state filing deadlines, new disaster relief forms delaying state returns, and the importance of obtaining complete information before filing.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Federal Tax Updates Episode 26
(02:17) - Tips for Taxpayers and Practitioners
(04:32) - Understanding State Tax Laws
(06:38) - Challenges in Filing Business Returns
(12:07) - Importance of Security in Tax Preparation
(15:29) - Understanding Circular 230 and Practitioner's Responsibilities
(21:01) - Efficient Workflow Management during Tax Season
(28:49) - The Importance of Pricing Structure
(30:24) - Beware of Scammers: Protecting Your Practice
(34:04) - Employee Retention Credit: What You Need to Know
(44:15) - The Impact of Beneficial Ownership
(51:40) - Wrapping 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
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
53min
February 13, 2024Navigating New Beneficial Ownership Rules
Roger and Annie kick off the 2024 tax season by explaining the new beneficial ownership reporting requirements under the Corporate Transparency Act. They detail who must comply, what information must be disclosed, and the tight deadlines and penalties involved. They also discuss whether accountants should assist clients with these complex filings or refer them to attorneys. Additionally, Annie provides an update on navigating ERC claims during the current filing season and Roger warns listeners to pay attention to potential last-minute tax law changes from Congress.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome To Federal Tax Updates Episode 25
(00:55) - The 2024 Tax Season
(01:41) - Beneficial Ownership Interest Reporting
(02:42) - Understanding the Rules and Implications
(03:25) - Exploring the Corporate Transparency Act
(04:04) - Impact on Small Businesses
(06:56) - Challenges and Concerns with the New Law
(08:05) - Defining Beneficial Owners
(10:14) - Understanding the Reporting Process
(12:17) - Discussion on the Challenges of Compliance
(15:36) - Advice for Navigating the New Law
(22:58) - What Should People Be Doing Right Now?
(39:53) - Updates on the Employee Retention Credit
(44:11) - Final Thoughts and Thanks For Listening

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
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
44min

FAQs about Federal Tax Updates:

How many episodes does Federal Tax Updates have?

The podcast currently has 77 episodes available.

More shows like Federal Tax Updates

WSJ Your Money Briefing by The Wall Street Journal

WSJ Your Money Briefing

1,729 Listeners

Main Street Business by Mark J Kohler and Mat Sorensen

Main Street Business

593 Listeners

PwC's accounting podcast by PwC

PwC's accounting podcast

182 Listeners

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

Your Money, Your Wealth

811 Listeners

Tax Smart Real Estate Investors Podcast by Hall CPA

Tax Smart Real Estate Investors Podcast

422 Listeners

Talking Tax by Bloomberg Tax

Talking Tax

115 Listeners

NerdWallet's Smart Money Podcast by NerdWallet Personal Finance

NerdWallet's Smart Money Podcast

900 Listeners

Tax Notes Talk by Tax Notes

Tax Notes Talk

95 Listeners

The Accounting Podcast by Blake Oliver & David Leary

The Accounting Podcast

352 Listeners

Small Business Tax Savings Podcast by Mike Jesowshek, CPA

Small Business Tax Savings Podcast

259 Listeners

The Long View by Morningstar

The Long View

927 Listeners

Ready For Retirement by James Conole, CFP®

Ready For Retirement

829 Listeners

The Long Term Investor by Peter Lazaroff

The Long Term Investor

154 Listeners

On Investing by Charles Schwab

On Investing

333 Listeners

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

Tax in Action: Practical Strategies for Tax Pros

14 Listeners