Federal Tax Updates

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 Federal Tax Updates podcast. The hosts Roger Harris and Annie Schwab have over 75 years of tax experience between them, which has been featured in various media outlets including Wall Street Journal, USA Today, The Morning Business Report, Bloomberg Business News, and Accounting Today.

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Top 10 Federal Tax Updates Episodes

Goodpods has curated a list of the 10 best Federal Tax Updates episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Federal Tax Updates for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Federal Tax Updates episode by adding your comments to the episode page.

Tax Season 2025: Changes, Challenges, and Uncertainties

Federal Tax Updates

12/16/24 • 50 min

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
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This podcast is a production of the Earmark Media

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Tax Season Kickoff

Federal Tax Updates

01/27/25 • 55 min

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.

This podcast is a production of the Earmark Media

Tax Season Reflections

Federal Tax Updates

05/06/24 • 48 min

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
(02:14) - Post-Tax Season Reflections: IRS Performance and Technological Improvements
(08:22) - Evaluating the Tax Season: Metrics and Client Feedback
(14:14) - Addressing Post-Tax Season Tasks and Planning Ahead
(23:11) - Navigating New Developments: Beneficial Ownership Reporting
(25:37) - Navigating the Complexities of Court Rulings and Association Memberships
(27:12) - Congressional Attention on Implementation Issues
(28:11) - Exploring the Details of Beneficial Ownership Reporting
(29:01) - Challenges and Legalities for Tax Practitioners
(32:59) - The Ongoing Struggle with ERC Claims Processing
(33:53) - Fraud Prevention and the Importance of Accurate Record-Keeping
(36:35) - Addressing the Surge in Fraudulent Claims and Ensuring Compliance
(40:10) - Legislative Updates and Future Tax Policy Discussions
(42:38) - Security Concerns and Protecting Client Data
(47:18) - 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.

Post Tax Season Firm Improvements

Federal Tax Updates

05/22/23 • 51 min

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
(02:52) - What's your general impressions about the tax season?
(04:57) - What are we seeing in the industry in terms of headwinds?
(11:59) - Why is hiring becoming so difficult in accounting?
(29:15) - Great practices to do post tax season?
(44:37) - 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.

The ERC Landscape with Hale Sheppard

Federal Tax Updates

07/29/24 • 54 min

This podcast episode features tax controversy expert Hale Sheppard discussing the latest developments and challenges surrounding Employee Retention Credit (ERC) claims. Sheppard provides insights into IRS audit processes, potential penalties for ERC promoters, and the complexities of defending ERC claims. The conversation covers recent IRS announcements, proposed legislation, and the long-term implications for taxpayers and tax professionals.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(01:30) - Discussing the Employee Retention Credit (ERC)
(02:02) - Introducing Guest Expert Hale Shepard
(03:06) - IRS Updates on ERC Claims Processing
(06:09) - Challenges in Documentation and Audits
(11:59) - Protest Letters and Legal Considerations
(15:53) - Patterns and Trends in ERC Audits
(21:13) - Impact of Delays and New Business Models
(25:45) - Legal Authority and Future Implications
(31:20) - The American Rescue Plan and Its Implications
(32:17) - Legislation and ERC Claims Cutoff
(36:23) - Promoter Penalty Investigations
(45:29) - IRS Guidance and Retroactive Challenges
(49:36) - Future of ERC and Beneficial Ownership
(52:34) - 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 Hale Sheppard
https://www.linkedin.com/in/halesheppard
https://www.chamberlainlaw.com/people-hale_sheppard.html

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.

IRS Funding, Tax Gaps, and Modern Tech

Federal Tax Updates

02/10/25 • 56 min

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.

This podcast is a production of the Earmark Media

Corporate Transparency Act Ruled Unconstitutional

Federal Tax Updates

03/12/24 • 57 min

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
(01:11) - Special Guest Blake Oliver Joins the Show
(02:36) - Diving into the Controversial Federal Court Ruling on Company Reporting Law
(05:39) - Exploring the Implications of the Unconstitutional Ruling for Small Businesses
(18:54) - IRS's Efforts to Tackle Tax Evasion by Millionaires and Billionaires
(29:49) - The IRS Direct File System: A Move Towards Free Tax Filing
(30:36) - Exploring the IRS's New Tax Filing Program
(31:19) - The Cloud Accounting Podcast Begins
(31:36) - Potential Impact on Tax Preparers
(33:10) - Limitations and Design of the New Tax Tool
(34:50) - The Complex World of Business Returns
(36:06) - AI's Role in Tax Preparation: Hopes and Hurdles
(42:30) - IRS's Paperwork Problem and Electronic Filing
(47:42) - State Business Tax Climate Index: The Best and Worst States
(56:15) - 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.

What You Need to Know About Beneficial Ownership Information Reporting | Part 1

Federal Tax Updates

10/21/24 • 51 min

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.

This podcast is a production of the Earmark Media

The Long Road to Tax Certainty

Federal Tax Updates

01/02/24 • 52 min

With tax provisions constantly expiring and major questions looming about the future of the tax code, uncertainty reigns. Roger, Annie, and guest Thad Inge break down the state of play on tax extenders, the likelihood of action on expiring tax cuts, and the challenges businesses face in planning amidst the uncertainty.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(02:36) - State of Congress
(07:40) - Secure Act Overview
(10:55) - Government Shutdowns and Funding
(14:49) - Potential Tax Changes
(20:23) - Tax Cuts and Jobs Act
(28:55) - IRS Plans for Additional Funding
(35:20) - IRS Improvements Seen So Far
(43:36) - ERC Status and Issues
(51:24) - Wrap up 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 Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/

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.

Achieve 10X Growth for Your Firm: The Firm Owner's Playbook

Federal Tax Updates

12/30/24 • 52 min

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

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