Roger testified April 30th, before the House Committee on Small Business. Roger was asked to speak on the small business perspective during a full committee hearing titled, "Under the Microscope: Examining FinCEN's Implementation of the Corporate Transparency Act."
Roger's goal in attending this hearing on behalf of Padgett's firm owners and small business clients was to help clarify the current issues with the implementation of the Beneficial Ownership Information (BOI) reporting requirement that was created under 2021's Corporate Transparency Act (CTA).

This bonus episode does not quality for CPE or IRS CE

Padgett - Contact Padgett or Email Jeff Phillips

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Roger Harris
Annie Schwab

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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 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.

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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

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.

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 culture.

Sponsors
Padgett - Contact Padgett or Email Jeff Phillips

• (00:00) - Welcome to Federal Tax Updates
• (02:04) - Meet Amanda Aguilar: A Journey from CPA to IRS Advisory Council Member
• (03:26) - Post-Tax Season Reflections: Looking Back to Move Forward
• (06:03) - Evaluating Your Practice: The Importance of Client Grading
• (11:02) - Achieving Work-Life Balance Through Right Sizing
• (16:54) - Embracing Specialization for a More Profitable Practice
• (21:41) - The Power of Saying No: Setting Boundaries with Clients
• (26:17) - Leveraging Technology for Efficiency and Balance
• (27:58) - The Challenge of Vetting Software
• (29:23) - The Reality of Clients and Technology Adoption
• (30:38) - Making Tough Decisions on Client Technology Use
• (33:37) - Evaluating Tax Software: Cost vs. Capability
• (38:19) - Diversifying Services Beyond Tax Season
• (42:51) - The Value of Accounting Services in the Age of DIY Software
• (48:38) - Closing Thoughts: Embracing Change for a Healthier Work-Life Balance

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.