83: Making Sense of Tax Season in 2022

02/15/22 • 38 min

The pandemic has brought on many changes in the last few years, and these changes have impacted the tax season in 2022.

What challenges and updates should people be aware of this tax season?

On today's episode of the Taxgirl podcast, Kelly is joined by Amber Gray-Fenner to talk about challenges impacting taxpayers and tax professionals this filing season.

Amber is an Enrolled Agent and owner of Tax Therapy, LLC, in Albuquerque, New Mexico. Amber considers herself a tax "general practitioner" who prepares returns for individuals and (really) small businesses and represents individuals before the IRS and, occasionally, the U.S. Tax Court (as a non-attorney practitioner admitted to the Tax Court bar). Amber is also a tax writer whose passion is translating "taxspeak" into English for taxpayers and tax practitioners. She writes to dispel myths with facts and to explain “the fine print” behind seemingly simple tax concepts. Amber is a contributing writer at Forbes.com covering individual tax issues and IRS developments, a contributing writer for ThinkOutsidetheTaxBox.com, and one of the authors of The Most Common Tax Mistakes Made by Small Businesses (Lily Tran, author/editor).

Listen to Kelly and Amber discuss this tax season’s challenges:

What does Amber think are the challenges people will face this year regarding tax struggles or filing difficulties?
Kelly and Amber discuss the ways that the IRS's slow and often inefficient processes may cause challenges for taxpayers and professionals this tax season.
How would refund check delays impact the lives of people who rely on tax refunds? Would the IRS be to blame for these impacts?
Does taxpayers' time to file their returns influence how soon they will receive their refunds? How can taxpayers find a balance between filing early to avoid risks like ID theft vs. waiting patiently to file a correct return?
In what ways are taxpayers at risk of being taken advantage of?
Amber and Kelly discuss how the IRS is under-resourced and how this could have long-term consequences to the tax process and the taxpayer's trust in the system.
What can taxpayers and tax professionals do this season to make their lives easier? Amber discusses some of the options available to taxpayers to aid them in the filing process this season.
How can taxpayers best prepare and organize their information when filing with a tax professional?
In what ways can tax professionals be better at determining whether a relationship with a potential client would be a good fit? How should the price that tax professionals charge factor into this practice?

More about Kelly:

Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info, and tax policy. In each episode, she shares conversations about taxes, money, and the choices we make. Kelly is a tax attorney who works with taxpayers and tax practitioners like you every day. She helps folks out of tax jams, and hopefully, keeps others from getting into them.

You can find out more about Kelly here and you can follow her on Twitter, Facebook, Instagram, and Linkedin.

To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.

Links:

Kelly’s Website – Taxgirl

Amber’s Website – Tax Therapy 505

Amber’s Twitter – @taxtherapist505

Amber's book - The Most Common Tax Mistakes Made by Small Businesses

The pandemic has brought on many changes in the last few years, and these changes have impacted the tax season in 2022.

What challenges and updates should people be aware of this tax season?

On today's episode of the Taxgirl podcast, Kelly is joined by Amber Gray-Fenner to talk about challenges impacting taxpayers and tax professionals this filing season.

Listen to Kelly and Amber discuss this tax season’s challenges:

What does Amber think are the challenges people will face this year regarding tax struggles or filing difficulties?
Kelly and Amber discuss the ways that the IRS's slow and often inefficient processes may cause challenges for taxpayers and professionals this tax season.
How would refund check delays impact the lives of people who rely on tax refunds? Would the IRS be to blame for these impacts?
Does taxpayers' time to file their returns influence how soon they will receive their refunds? How can taxpayers find a balance between filing early to avoid risks like ID theft vs. waiting patiently to file a correct return?
In what ways are taxpayers at risk of being taken advantage of?
Amber and Kelly discuss how the IRS is under-resourced and how this could have long-term consequences to the tax process and the taxpayer's trust in the system.
What can taxpayers and tax professionals do this season to make their lives easier? Amber discusses some of the options available to taxpayers to aid them in the filing process this season.
How can taxpayers best prepare and organize their information when filing with a tax professional?
In what ways can tax professionals be better at determining whether a relationship with a potential client would be a good fit? How should the price that tax professionals charge factor into this practice?

More about Kelly:

You can find out more about Kelly here and you can follow her on Twitter, Facebook, Instagram, and Linkedin.

To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.

Links:

Kelly’s Website – Taxgirl

Amber’s Website – Tax Therapy 505

Amber’s Twitter – @taxtherapist505

Amber's book - The Most Common Tax Mistakes Made by Small Businesses

Previous Episode

82: Tax Preparation - What Taxpayers Need to Know

With tax season starting, many taxpayers are considering the best ways to file their returns and prepare their tax documents. But, with so many methods and room for confusion, what knowledge should taxpayers have to make the process go smoothly?

What information should taxpayers know to prepare themselves for this tax season?

On today's episode of the Taxgirl podcast, Kelly is joined by Mark Steber to talk about everything that taxpayers should know and expect this tax season. Mark is a Senior Vice President and Chief Tax Information Officer at Jackson Hewitt Tax Service.

Listen to Kelly and Mark discuss the upcoming tax season:

Which tax payment processes are confusing and intimidating to DIY taxpayers this year?
The IRS is not set up to help Americans get the most out of their tax experience regarding things like tax preparation and refunds. Mark shares his opinion on why this is the case.
Kelly and Mark discuss the challenges facing nonfilers.
Mark talks about why he encourages all taxpayers to ask their professionals upfront about the cost of their tax preparation services.
How should tax practitioners promote their services and what they're offering?
Big branded tax professional services are not always the best options for taxpayers to form long-lasting relationships with their tax professionals. Kelly and Mark address this concern that people have about these companies and their tax professionals.
What should taxpayers be prepared for when working with a tax professional? What questions should they be asking to get the most out of their experience?
Mark and Kelly discuss guarantees in the tax business, audit relief for audit protection, and what they think should be the role of a tax professional in those situations where taxpayers are looking for these guarantees.
Last year stimulus checks presented a significant issue for taxpayers trying to file their returns. Kelly asks Mark what he thinks will be problematic for taxpayers this year.
Should the tax filing season deadline be changed? Mark explains why he doesn't believe the deadline should be adjusted.

More about Kelly:

Kelly is the creator and host of the Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.

You can find out more about Kelly here and you can follow her on Twitter, Facebook, Instagram, and Linkedin.

To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.

Links:

Kelly’s Website – Taxgirl

Mark’s Website – Jackson Hewitt

Mark’s Twitter – @marksteber

Next Episode

84: Education and Student Loan Survival

Education has become less affordable in recent years leading many to take out student loans. Unfortunately, new borrowers often find it challenging to navigate the complex processes surrounding student loans and payments.

What information do borrowers need to make wise student loan decisions?

On today's episode of the Taxgirl podcast, Kelly is joined by Bobby Matson to talk about student loan debt. Bobby is the CEO of Payitoff, which provides technology solutions for producing positive financial outcomes for student loan borrowers. It was founded with the goals of streamlining the complicated student loan system and saving borrowers money.

Listen to Kelly and Bobby discuss student loans:

How can technology solutions like apps and platforms help borrowers with the student loan borrowing and payment processes?
Kelly speaks on her own student loan debt experiences and the confusion borrows face with complex processes like repayment rules, loan levels, and payment options.
How can the topic of student loans be broken down in a way that is understandable to the people who have to pay them?
Kelly and Bobby speak about the interest deductions that borrowers can get on their taxes for having student loans and the qualifications involved.
Why is it important, and why can it be helpful to have conversations and educate students about student loan options?
There are few options available that provide simple assistance with loan repayment, as the system is complex. Bobby explains why software offered by his company can help connect people with better repayment methods.
Many people must choose which debts to repay before others when it comes to repayment. How does the emotional component of debt impact people's repayment decisions? How does the stigma around borrowing affect the way people discuss and treat and discuss their debt?
Kelly and Bobby discuss student loan forgiveness and the Department of Education's targeted relief programs for loan borrowers.
How could access to information about loans and payment programs help people make better economic decisions?