Roger and Annie discuss the unique challenges tax practitioners face as 2024 draws to a close. They explore the potential impact of the upcoming election on tax law, ongoing issues with the Employee Retention Credit, and the looming deadline for Beneficial Ownership Information reporting. The hosts provide insights on how to approach tax planning amidst uncertainty and offer practical advice for managing client expectations during this complex period.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

• (00:00) - Welcome to Federal Tax Updates
• (01:46) - Challenges in Tax Planning
• (03:07) - Election Impact on Tax Laws
• (07:14) - Potential Changes in Tax Provisions
• (16:38) - Electric Vehicle Tax Credits
• (21:30) - Tax Reform and Future Considerations
• (27:02) - Meeting with IRS Commissioner Werfel
• (28:24) - IRS Funding and Staffing Challenges
• (29:16) - Tax Scams and Fraud Prevention
• (32:57) - Employee Retention Credit (ERC) Updates
• (40:40) - Beneficial Ownership Information Reporting
• (50:22) - End-of-Year Tax Planning and Challenges
• (51:54) - Final Thoughts and Wrap-Up

Connect with the Hosts on LinkedIn
https://www.linkedin.com/in/rogerharrispbs/
https://www.linkedin.com/in/annie-schwab-852418261/

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This podcast is a production of the Earmark Media

Join Roger and Annie on this special episode, as they take you behind the scenes at the IRS National Tax Forum in Dallas. Through interviews with key figures from the IRS, professional associations, and industry leaders, this special episode offers unique insights into the current state of tax practice and policy. Listeners will gain valuable perspectives on critical issues facing tax professionals, including combating tax scams, improving IRS services, and the future of tax preparation standards.

• (00:00) - Welcome to Federal Tax Updates
• (00:39) - Coming to You Live From the Dallas IRS Tax Forum
• (01:56) - Welcome Jeff Phillips to the Show
• (16:57) - Welcome Melvin Hardy to the Show
• (32:43) - Welcome Christine Freeland to the Show
• (47:34) - Welcome Kelly Comegys to the Show
• (55:44) - Welcome Alan Pinck to the Show
• (01:06:37) - Welcome Nina Tross to the Show
• (01:20:53) - Welcome Terry Lemmons to the Show
• (01:33:27) - Thanks for Joining Us and Remember to Subscribe!

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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.

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

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.