Federal Tax Updates

Washington Watch: Filing Season Pressures and Legislative Gridlock


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Roger and Annie welcome back Thad Inge to decode what's happening in Washington DC as filing season kicks off. With potential government shutdowns, billion-dollar IRS budget cuts, and 25% of IRS staff gone through early retirements, uncertainty looms over tax professionals trying to implement retroactive provisions for overtime and tips. The conversation shifts to the renewed push for minimum tax preparer standards and why getting bipartisan legislation passed might be harder than ever in an election year.

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Connect with Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/

Chapters

  • (00:00) - Introduction and Greetings
  • (03:15) - Congressional Updates and Government Shutdown Concerns
  • (09:19) - IRS Staffing and Service Levels
  • (11:31) - Tax Legislation and Employer Guidance
  • (16:08) - State Tax Variations and Software Updates
  • (19:35) - IRS Budget Cuts and Inflation Reduction Act Funds
  • (25:25) - Student Loan Offsets and Political Implications
  • (28:31) - Potential Tax Legislation and ACA Premium Tax Credits
  • (29:35) - Trump's Healthcare Plan and Legislative Challenges
  • (30:10) - Tax Extenders and Bipartisan Cooperation
  • (32:36) - Child Tax Credit and Legislative Vehicles
  • (33:24) - The Legislative Process and Unanimous Consent
  • (37:02) - Senator Tillis and Party Defections
  • (40:10) - Minimum Standards for Tax Preparers
  • (53:57) - Incentivizing E-Filing for Small Businesses
  • (58:12) - Conclusion and Upcoming Tax Season
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    Roger Harris
    Annie Schwab

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    Federal Tax UpdatesBy Roger Harris, EA and Annie Schwab, CPA

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