IRS Funding, Tax Gaps, and Modern Tech

Former IRSAC Chair Annette Nellen joins Roger and Annie to discuss critical challenges facing the IRS and tax administration. The conversation explores the growing tax gap, the importance of consistent IRS funding, and efforts to modernize taxpayer services through online accounts and digital solutions. The discussion also delves into proposals for tax preparer regulation, continuing education requirements for enrolled agents, and the complexities of implementing cryptocurrency reporting requirements.SponsorsPadgett -  Contact Padgett or Email Jeff Phillips(00:00) - Welcome to Federal Tax Updates (01:19) - Introducing Special Guest Annette Nellen (02:10) - Understanding the ERSAC Annual Report (05:24) - Deep Dive into the Tax Gap (07:36) - IRS Funding and Its Impact (18:48) - Tax Literacy and Education Challenges (25:32) - Modernizing the IRS and Funding (30:17) - IRS Hiring Challenges and Misconceptions (31:32) - Impact of Potential Hiring Freeze (33:12) - IRS Strategic Operating Plans and Online Accounts (36:38) - Technological Advancements and Challenges (43:32) - Practice Management and Professional Development (47:36) - Regulating Tax Return Preparers (52:05) - Digital Currency and Cryptocurrency Regulations (55:07) - Conclusion and Final Thoughts Connect with Annette Nellenhttps://www.linkedin.com/in/annette-nellen-7448824IRSAC Reporthttps://www.irs.gov/pub/irs-pdf/p5316.pdfGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with the Roger and Annie 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