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.

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.

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.

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.

New Programs, Looming Deadlines, and Forum Insights

Federal Tax Updates

08/26/24 • 50 min

Roger Harris and Annie Schwab explore recent tax policy changes, including updates to voluntary disclosure programs and new IRS enforcement efforts. They discuss the ongoing challenges surrounding Beneficial Ownership Information reporting requirements and their potential impact on tax practitioners. The hosts also preview their upcoming live podcast recording at the IRS Tax Forum in Dallas, offering listeners a glimpse into this valuable industry event.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Welcome to Federal Tax Updates
(02:19) - Current Political Climate in DC
(02:53) - Legislative Updates and Tax Relief
(08:49) - Digital Asset Reporting
(09:32) - Security Summit and WISP
(19:13) - Employer Retention Credit Updates
(28:08) - IRS Moratorium and Fraud Analysis
(31:39) - Penalties and Promoter Fines
(32:24) - ERC Business Resurgence
(35:12) - Beneficial Ownership Information Reporting
(37:40) - Challenges and Uncertainties in BOI Compliance
(46:54) - IRS Forums and Upcoming Events

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 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.

Tax Season Kickoff

Federal Tax Updates

01/17/23 • 48 min

Kick off tax season with the Inflation Reduction Act of 2022, the Employee Retention Credit, K-2s and K-3s, the latest 1099s changes, and updates to tax brackets, standard deductions, and mileage rates. Join Roger and Annie for this premier episode of Federal Tax Updates!

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
Accounting Today - The Year Ahead: Top challenges for 2023

Chapters

(00:00) - FedTax Episode 1
(00:52) - Introducing your hosts: Annie and Roger
(01:55) - Opportunities and challenges for the upcoming tax season
(03:09) - Inflation Reduction Act of 2022
(07:32) - Changes in tax brackets
(08:26) - Updates on Standard Deduction
(09:07) - Mileage rate changes for 2023
(12:23) - Employee Retention Credit opportunity still exists
(21:31) - How COVID impacts the nexus state tax implications
(22:10) - Talent issues within the accounting industry
(24:26) - Emergence of "Quiet Quitting"
(26:43) - Challenges in reporting K-2's and K-3's
(31:20) - The problems that arise when reporting cryptocurrency
(33:31) - Roger's thoughts on recent 1099 events
(42:48) - Omnibus spending package

Connect with Padgett
www.padgettadvisors.com
twitter.com/PadgettUSA
linkedin.com/company/padgett-business-services/

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.

Handling IRS Notices Like a Pro

Federal Tax Updates

06/17/24 • 53 min

In this episode, Roger and Annie dive into the world of IRS notices. They discuss the most common types of notices, like the CP2000 matching notice, and share strategies for responding effectively. They also highlight the benefits of setting up online accounts with the IRS for tax practitioners and taxpayers and provide tips for spotting potential IRS scams. Tune in for valuable insights on navigating IRS notices with confidence and clarity.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

(00:00) - Federal Tax Updates Episode 33
(01:11) - Introduction and Summer Plans
(02:07) - Understanding IRS Notices
(06:47) - CP2000 Notices Explained
(20:12) - Responding to IRS Notices
(27:09) - Strategies for Handling Tax Penalties
(28:55) - Importance of Timely Responses to IRS Notices
(30:59) - Mailing Issues and Certified Receipts
(33:01) - Setting Up and Using IRS Online Accounts
(40:09) - TaxPro Accounts and Future Enhancements
(43:11) - Scams and IRS Communication Guidelines
(45:28) - Summer Tax Planning Tips
(48:06) - Current Issues: ERC and Beneficial Ownership
(51:56) - 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.

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 Imposes Moratorium on ERC

Federal Tax Updates

10/03/23 • 54 min

Roger and Annie discuss updates on the employee retention tax credit, including the IRS's new moratorium on processing claims, as well as new requirements for reporting beneficial owners coming in 2023 which have tight 30-day reporting deadlines. They also cover the IRS's changing audit focus to target more complex returns like partnerships and high net-worth individuals, along with the IRS actively hiring for these new audit priorities.

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.

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) - Federal Tax Updates Ep 17
(02:47) - Employee Retention Credit Refresher
(04:40) - ERC Fraud Concerns
(12:21) - ERC Moratorium
(25:13) - Amending Returns for ERC
(31:29) - Beneficial Owner Reporting
(46:18) - E-file Mandate for Informational Returns
(49:25) - IRS Hiring
(54:12) - Wrap Up and Remember To Subscribe

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.

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FAQ

How many episodes does Federal Tax Updates have?

Federal Tax Updates currently has 48 episodes available.

What topics does Federal Tax Updates cover?

The podcast is about News, Tax, Accounting, Business News, Courses, Podcasts, Education and Cpa.

What is the most popular episode on Federal Tax Updates?

The episode title 'Form 4868: Extension of Time To File U.S. Individual Income Tax Return' is the most popular.

What is the average episode length on Federal Tax Updates?

The average episode length on Federal Tax Updates is 53 minutes.

How often are episodes of Federal Tax Updates released?

Episodes of Federal Tax Updates are typically released every 14 days.

When was the first episode of Federal Tax Updates?

The first episode of Federal Tax Updates was released on Jan 12, 2023.

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Federal Tax Updates

Roger Harris, EA and Annie Schwab, CPA

Top 10 Federal Tax Updates Episodes

FAQ

How many episodes does Federal Tax Updates have?

What topics does Federal Tax Updates cover?

What is the most popular episode on Federal Tax Updates?

What is the average episode length on Federal Tax Updates?

How often are episodes of Federal Tax Updates released?

When was the first episode of Federal Tax Updates?

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