Elections, Tax Changes, and Compliance Deadlines

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.SponsorsPadgett -  Contact Padgett or Email Jeff Phillips(00:00) - Welcome to Federal Tax Updates (01:15) - Challenges in Tax Planning (02:36) - Election Impact on Tax Laws (06:43) - Potential Changes in Tax Provisions (15:24) - Electric Vehicle Tax Credits (20:16) - Tax Reform and Future Considerations (25:48) - Meeting with IRS Commissioner Werfel (27:10) - IRS Funding and Staffing Challenges (28:02) - Tax Scams and Fraud Prevention (31:43) - Employee Retention Credit (ERC) Updates (39:26) - Beneficial Ownership Information Reporting (49:08) - End-of-Year Tax Planning and Challenges (50:40) - Final Thoughts and Wrap-Up 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 LinkedInhttps://www.linkedin.com/in/rogerharrispbs/https://www.linkedin.com/in/annie-schwab-852418261/ReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark Media