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 67 episodes available.

Federal Tax Updates episodes:

September 06, 2023Gearing Up for Q4: Tax Prep Tips and Insights
In this episode, Roger and Annie cover recent federal tax updates and urge tax professionals to gear up for the October 15 extension by assessing their performance and contemplating tax software changes. They delve into rising IRS audit notices for the Employee Retention Credit (ERC), the new 1099-K reporting threshold, the IRS's halt on surprise visits by revenue officers, and the impending Corporate Transparency Act.
Sponsors
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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.
(01:02) - Welcome to Federal Tax Updates : how to be proactive
(08:10) - What's new with ERC
(11:27) - Estimated tax payments or adjusting withholdings
(13:49) - The start of IRS notices and what do they mean?
(15:59) - How to respond to an IRS Notice?
(28:39) - What kind of documentation does the IRS expect small business owners to have?
(36:58) - Updates on 1099-Ks
(46:20) - New changes in policy for the IRS
(48:14) - Updates on the Transparency Act
(54:05) - Making changes to your overall work environment
(55:13) - Remember to subscribe so you don't miss an episode
...more
53min
August 22, 2023The ERC Rollercoaster Continues
The drama and confusion around Employee Retention Credits continues into 2023 with new guidance creating more questions than answers. In this episode, Roger and Annie provide an update on the latest ERC developments, including new problems facing practitioners and small business owners as well as lingering unresolved issues around amending returns, repayments, and fraud. Join Roger and Annie as they attempt to make sense of the ongoing ERC mess in 2023.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips
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.
(00:00) - Welcome everyone to another episode of Federal Tax Updates: We have some ERC updates
(07:17) - You can still apply for the ERC credit
(12:51) - If you don't do ERC make sure your clients are working with a legit company
(19:04) - What if a small business got some ERC money that they probably shouldn't have?
(30:51) - What qualifies as "Supply Chain Interruption?"
(31:47) - Roger gives Annie a test if someone would qualify for ERC
(40:19) - What should the people do if they have legitimate ERC credits?
(47:54) - Key takeaways about ERC you should know today!
(51:08) - Wrap up. Please subscribe so you don't miss an episode
...more
53min
August 07, 2023Level Up: Tax Practice Growth Tips
On this episode Roger and Annie review strategies for tax pros to strengthen their firms, including evaluating clients and fees, developing a niche, implementing new technologies, transitioning to subscription pricing, and creating a succession plan.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips
Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.

Chapters
(00:00) - Federal Tax Updates Episode 14
(01:17) - Welcome to Federal Tax Updates
(10:10) - What to do with a client that is not experienced with technology?
(14:27) - What technologies can be brought to improve your service?
(20:39) - What can developing a niche do to help your firm?
(30:14) - What do people mean when they talk about Subscription Pricing?
(38:58) - IRS released OPR information reminders for succession plans
(48:04) - Recent IRS updates to be aware of.
(53:08) - Thanks for listening and please subscribe so you don't miss an episode
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
July 24, 2023Tax Planning for 2023: Provisions on the Chopping Block
On this episode Roger and Annie discuss expiring tax provisions, the latest on ERC audits, the resumption of student loan payments, and IRS budget challenges. They provide guidance on planning for changes, spotting fraudulent ERC providers, and embracing technology to thrive as a firm.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

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

Chapters
(00:00) - Welcome to another episode of Federal Tax Updates
(03:08) - What to watch for in elections and how they might impact the IRS and taxes
(12:44) - Updates on the 199A deduction
(26:17) - Some ERC updates
(27:38) - How to know if you are a dealing with a legitimate ERC Mill?
(33:23) - Keys from the practitioner side of ERC
(42:07) - Updates on student loan forgiveness/repayment
(45:08) - Annie's Scaling New Heights experience
(53:22) - Wrap up and please subscribe so you don't miss an episode
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
52min
July 11, 2023Making Changes to Your Tax Firm: A Summer Reflection
On this episode, Roger and Annie discuss making changes to tax firms during the summer season, emphasizing the need to reflect on the current business to create a better work-life balance. They talk about examining price structure and client list, addressing estimated taxes, and offering advisory meetings to increase revenues. They also emphasize the need for tax practitioners to be proactive in addressing changes in their business.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

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

Chapters
(00:00) - Welcome to Federal Tax Updates : What Annie and Roger have been up to this summer
(12:24) - Where to start changing your firm
(20:42) - Some more proactive steps
(28:14) - Tax advice for new business owners
(43:26) - What can you do now to help yourself during next tax season?
(48:38) - Changing the way you bill your clients
(52:56) - Wrap up and please subscribe so you don't miss new episodes
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
June 25, 2023The Dirty Dozen Tax Scams of 2023
This week, Roger and Annie cover the latest news. First, they discuss the launch of the ERC audits, then move on to the impact the debt-ceiling agreement will have on the IRS. They also cover the annual IRS "Dirty Dozen" worst tax scams. To wrap things up, Roger recaps his latest trip to Washington, DC.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

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

Chapters
(00:00) - Federal Tax Updates Episode 11
(00:54) - Latest updates on the ERC
(26:17) - Updates on the June 3rd debt ceiling
(32:45) - Rogers recap on his trip to Washington D.C.
(40:56) - Upcoming deadlines and reminders
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
50min
May 22, 2023Post Tax Season Firm Improvements
This week, Roger and Annie deviate from their normal tax update chats to have a deep discussion about the current state of the accounting profession and how you can use this post tax season downtime to improve your firm.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

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

Chapters
(00:00) - Post Tax Season Firm Improvements
(02:36) - What's your general impressions about the tax season?
(04:41) - What are we seeing in the industry in terms of headwinds?
(11:43) - Why is hiring becoming so difficult in accounting?
(29:03) - Great practices to do post tax season?
(44:25) - Does the accounting industry need to make changes to the process of becoming a CPA?
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
52min
May 09, 2023Handling Incorrect ERC Claims
Annie and Roger discuss how tax season isn't over yet due to 50,000 ERC claims per week being filed with the IRS. They also go into detail on how to handle incorrect and potentially fraudulent claims.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

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

Chapters
(00:00) - FTU E9
(02:58) - More updates on ERC
(07:38) - Some basics of the ERC
(18:05) - What do we do if we believe the ERC claim to be false and a client comes to us to amend the return?
(24:26) - What is the goal of form 14242?
(33:19) - ERC Suppy Chain Interruption
(35:11) - Quick summary to know if you qualify for ERC
(41:57) - Updates on Tax Cuts and Job Act (Trump Tax Cuts )
(50:30) - How do think the Tax Practitioners tax season went?
(52:49) - Was this a good or bad tax season?
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
April 24, 2023Reflecting on the 2023 Tax Season and Planning for 2024 & Beyond
Annie and Roger reflect on the 2023 tax season and suggest some ways firms and their teams can start making changes for the 2024 tax season. They also dive into some upcoming federal tax issues that tax professionals and their clients will face throughout the next year.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.
Links Mentioned in This Episode

Chapters
(00:00) - FTU E8
(01:16) - Annies opinions on Tax Sesason
(07:45) - How did the IRS do this year?
(19:31) - What is the difference between a IRS letter and a Audit?
(24:38) - If the chance of gettting audited is less than 1% does this encourage non-compliance for the general public?
(32:57) - Updates on the Corporate Transparency Act of 2020
(38:23) - Upcoming potential changes to the Tax Cuts and Jobs Act
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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
47min
April 10, 2023Corporate Transparency Act of 2021
In this episode, Annie and Roger discuss The Corporate Transparency Act of 2021, what it mandates, and which companies will be affected. They also debate how this act affects the practitioner community and touch on the Dirty Dozen, give some updates on ERC, and how the $80 billion IRS funding is being used.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.
Links mentioned in this episode
IR-2023-62 - Dirty Dozen: IRS urges tax pros and other businesses to beware of spearphishing; offers tips to avoid dangerous common scams
IR-2023-61 - Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; schemes circulating involving tax forms
IR-2023-59 - Dirty Dozen: IRS warns individuals to stay clear of shady tax preparers; offers tips on carefully choosing tax professionals
IR-2023-57 - Dirty Dozen: IRS warns of scammers using fake charities to exploit taxpayers
IR-2023-55 - Dirty Dozen: Watch out for third-party promoters of false fuel tax credit claims
IR-2023-54 - Dirty Dozen: IRS warns of scammers offering “help” to set up an Online Account; creates identity theft risk for honest taxpayers
IR-2023-51 - Dirty Dozen: Watch out for scammers using email and text messages to try tricking people during tax season
IR-2023-49 - IRS opens 2023 Dirty Dozen with warning about Employee Retention Credit claims; increased scrutiny follows aggressive promoters making offers too good to be true
FAQs for Form 1099-K - https://www.irs.gov/pub/taxpros/fs-2023-06.pdf?fbclid=IwAR3mYpnRVSkuzeaIrQ6EtUZb62KZgMCx_rPYZX-5IsS8tNBtnKM-V3lpNB8

Chapters
(00:00) - FTU E7
(00:55) - Corporate Transparency Act of 2021 (CTA)
(07:01) - What are the penalties for disobeying the CTA
(08:53) - What does the CTA look like?
(29:03) - Updates on ERC
(40:34) - New information on the electric vehicle tax credit
(45:02) - Thoughts on armed IRS agents?
Follow the Federal Tax Updates Podcast on Social Media
twitter.com/FedTaxPod
facebook.com/FedTaxPod
linkedin.com/showcase/fedtaxpod

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

FAQs about Federal Tax Updates:

How many episodes does Federal Tax Updates have?

The podcast currently has 67 episodes available.

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