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BOI Relief, Tax Reform, and IRS Restructuring
Manage episode 470830467 series 3436441
Roger and Annie provide critical updates on the Treasury Department's decision to halt Corporate Transparency Act penalties and enforcement requirements, bringing relief to tax practitioners and their clients. They break down the six-step reconciliation process for tax reform, offering clarity on where current legislation stands and what might be coming. The hosts also discuss concerns about potential IRS workforce reductions, upcoming technology improvements, and preview changes to Circular 230 regulations that will impact tax practice management.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips
- (00:00) - Introduction and Welcome
- (02:04) - BOI Reporting Updates
- (02:50) - Corporate Transparency Act Penalties
- (05:46) - Guidance for Clients on BOI Compliance
- (11:03) - Government Shutdown Concerns
- (15:27) - Reconciliation and Tax Reform Process
- (26:15) - Debating the Impact of Tariffs
- (26:57) - Abolishing the IRS: Feasible or Fantasy?
- (29:08) - IRS Workforce Cuts: Immediate Implications
- (29:54) - Challenges of Tax Season Amid Workforce Reductions
- (32:39) - Potential Tax Reforms and Technological Advancements
- (45:31) - Common Tax Filing Mistakes to Avoid
- (47:58) - Upcoming Changes to Circular 230
- (51:19) - Wrapping Up 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
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
61 episodes
Manage episode 470830467 series 3436441
Roger and Annie provide critical updates on the Treasury Department's decision to halt Corporate Transparency Act penalties and enforcement requirements, bringing relief to tax practitioners and their clients. They break down the six-step reconciliation process for tax reform, offering clarity on where current legislation stands and what might be coming. The hosts also discuss concerns about potential IRS workforce reductions, upcoming technology improvements, and preview changes to Circular 230 regulations that will impact tax practice management.
Sponsors
Padgett - Contact Padgett or Email Jeff Phillips
- (00:00) - Introduction and Welcome
- (02:04) - BOI Reporting Updates
- (02:50) - Corporate Transparency Act Penalties
- (05:46) - Guidance for Clients on BOI Compliance
- (11:03) - Government Shutdown Concerns
- (15:27) - Reconciliation and Tax Reform Process
- (26:15) - Debating the Impact of Tariffs
- (26:57) - Abolishing the IRS: Feasible or Fantasy?
- (29:08) - IRS Workforce Cuts: Immediate Implications
- (29:54) - Challenges of Tax Season Amid Workforce Reductions
- (32:39) - Potential Tax Reforms and Technological Advancements
- (45:31) - Common Tax Filing Mistakes to Avoid
- (47:58) - Upcoming Changes to Circular 230
- (51:19) - Wrapping Up 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
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
61 episodes
All episodes
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