After the chaos of tax season, it's the perfect time to evaluate your accounting practice and make changes for a smoother upcoming year. In this episode, Roger is joined by guest Amanda Aguillard to discuss strategies to "right-size" your client roster, optimize technology usage, diversify service offerings, and implement better work-life balance. They share tips on reviewing clients, pricing appropriately, leveraging accounting services beyond tax prep, and avoiding the unhealthy grind...

In this episode, Roger sits down with Catharine Madeley, a tax practitioner who recently experienced a data breach at her firm. Catherine shares her firsthand account of how the breach unfolded, the steps she took to respond, and the lessons she learned along the way. She offers valuable insights into the importance of having a robust cybersecurity plan, the critical role of communication with clients, and the need to be proactive in protecting sensitive client information. SponsorsPadgett...

Tax professionals must steer through a complex maelstrom during the 2024 filing season. Roger and Annie serve as experienced guides, helping listeners chart a course around hazards like the Employee Retention Credit squalls, the revised "economic realities" path for worker classification under new Department of Labor rules, and proposed tax law changes including an enhanced Child Tax Credit and R&D deduction restart. With their steady hands on the bridge, preparers can safely navigate...

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. SponsorsPadgett -  Contact Padgett or Email...

Here's an excerpt from next week's Federal Tax Updates podcast, Episode 27. Blake Oliver joins Roger to discuss the latest tax news headlines including how the Corporate Transparency Act has been ruled unconstitutional. Be sure to download the full episode, Monday, March 11, to hear the entire discussion. Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode. Connect with the Hosts on LinkedInRoger HarrisAnnie SchwabConnect...

As tax season kicks off, Annie and Roger discuss tips for practitioners and taxpayers, including using e-file and direct deposit for fastest refunds, being vigilant about IRS scam alerts, reviewing Circular 230 rules on duties and liabilities, and evaluating your processes after April to improve efficiency. They also touch on state filing deadlines, new disaster relief forms delaying state returns, and the importance of obtaining complete information before filing. SponsorsPadgett -  Contact...

Roger and Annie kick off the 2024 tax season by explaining the new beneficial ownership reporting requirements under the Corporate Transparency Act. They detail who must comply, what information must be disclosed, and the tight deadlines and penalties involved. They also discuss whether accountants should assist clients with these complex filings or refer them to attorneys. Additionally, Annie provides an update on navigating ERC claims during the current filing season and Roger warns...

Get ready for the 2024 tax season with Roger and Annie! They cover critical deadlines, documentation tips, e-filing requirements, ERC updates,  and other need-to-know changes that affect small businesses and tax preparers this year. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters (00:00) - Welcome To Federal Tax Updates...

In this episode of Federal Tax Updates, hosts Roger Harris and Annie Schwab are joined by special guest Megan Killian, Executive Vice President of the National Association of Enrolled Agents (NAEA). Megan discusses her background in association management and her role leading NAEA, the premier organization representing the interests of Enrolled Agents. She talks about the benefits of NAEA membership for EAs, including advocacy, education, community, and support obtaining the credential. The...

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. SponsorsPadgett -  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) -...

Dave Gribben shares insights on how his firm navigated ERC complexities through client communication, staff training, and establishing trust to overcome questionable third-party fraud claims. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips (00:00) - Welcome To Federal Tax Updates (04:30) - Communicating with clients at the start of the pandemic (08:11) - Making information available as a service to the community (10:03) - Transitioning to a remote work model (17:18) - Handling...

Joey Vrooman, CPA, joins the show today and helps explain the importance of working to educate clients on financial literacy, despite common disinterest. He discusses tactics for simplifying complex terminology, using visual tools, meeting clients at their level, and the "win win" benefits for both advisor and business owner. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips (00:00) - Federal Tax Updates Episode 21 (01:11) - Welcome Joey to the show (03:02) - Defining financial...

Roger and Annie discuss key steps tax practitioners should take before the new year, including renewing PTINs, reviewing engagement letters, having tax planning conversations with clients, and learning about new beneficial owner reporting rules. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips (00:00) - Welcome to Federal Tax Updates (04:07) - Preparing for next tax season (06:48) - IRS updates (11:02) - ERC updates (22:04) - Withdrawing ERC claims (31:47) - Repaying ERC...

*This episode was originally recorded as a live webinar as part of Earmark's new Webinars+ series Has your client filed an Employee Retention Credit (ERC) claim with the IRS and now need to withdraw it? Join Roger Harris, EA and Annie Schwab, CPA, hosts of the Federal Tax Podcast, for this important episode where they will cover everything you need to know about withdrawing ERC claims. In this episode you'll learn:   ✅How the moratorium on ERC claims affects taxpayers   ✅ Who is eligible to...

Expert guest Jeff Darley joins Roger and Annie to discuss how to choose the right business entity for small business owners. They cover LLCs vs S-Corps, reasonable salary, payroll taxes, and more. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips (00:00) - Federal Tax Updates Episode 18 (02:17) - Background on Jeff Darley (15:03) - Payroll Taxes and Social Security (19:59) - S Corp vs C Corp (25:40) - Dealing with IRS on Reasonable Salary Audits (32:34) - Process of Electing S...

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. SponsorsPadgett -  Contact Padgett or Email Jeff...

In this bonus episode of Federal Tax Updates, co-host Roger Harris provides witness testimony to the United States House Committee on Ways and Means Oversight Subcommittee Hearing on the Employee Retention Tax Credit Experience: Confusion, Delays, and Fraud. Roger and other tax experts break down the issues small businesses and tax professionals have faced in claiming this credit, including long delays, confusing guidance from the IRS, and fraud by bad actors. These witnesses also discuss...

In this episode, Roger and Annie cover recent federal tax updates and urge tax professionals to gear up for the October 15 extension by assessing their performance and contemplating tax software changes. They delve into rising IRS audit notices for the Employee Retention Credit (ERC), the new 1099-K reporting threshold, the IRS's halt on surprise visits by revenue officers, and the impending Corporate Transparency Act. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips Get NASBA...

The drama and confusion around Employee Retention Credits continues into 2023 with new guidance creating more questions than answers. In this episode, Roger and Annie provide an update on the latest ERC developments, including new problems facing practitioners and small business owners as well as lingering unresolved issues around amending returns, repayments, and fraud. Join Roger and Annie as they attempt to make sense of the ongoing ERC mess in 2023. SponsorsPadgett -  Contact Padgett or...

On this episode Roger and Annie review strategies for tax pros to strengthen their firms, including evaluating clients and fees, developing a niche, implementing new technologies, transitioning to subscription pricing, and creating a succession plan. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode. Chapters (00:00) - Federal Tax Updates Episode 14 (01:57) -...

On this episode Roger and Annie discuss expiring tax provisions, the latest on ERC audits, the resumption of student loan payments, and IRS budget challenges. They provide guidance on planning for changes, spotting fraudulent ERC providers, and embracing technology to thrive as a firm. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Chapters (00:00) - Welcome...

On this episode, Roger and Annie discuss making changes to tax firms during the summer season, emphasizing the need to reflect on the current business to create a better work-life balance. They talk about examining price structure and client list, addressing estimated taxes, and offering advisory meetings to increase revenues. They also emphasize the need for tax practitioners to be proactive in addressing changes in their business. SponsorsPadgett -  Contact Padgett or Email Jeff...

This week, Roger and Annie cover the latest news. First, they discuss the launch of the ERC audits, then move on to the impact the debt-ceiling agreement will have on the IRS. They also cover the annual IRS "Dirty Dozen" worst tax scams. To wrap things up, Roger recaps his latest trip to Washington, DC. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links...

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. SponsorsPadgett -  Contact Padgett or Email Jeff Phillips Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters (00:00) - Post Tax Season Firm Improvements (03:01) -...