IRS Penalties Are Changing — What 1099 CRNAs Need to Know Now | Ep. 11

The U.S. House of Representatives just passed two important tax-related bills that could significantly impact 1099 CRNAs and self-employed anesthesia providers.In this episode of Money Moves for CRNAs, we break down:The FAIR Act, which changes how IRS penalties must be approvedNew protections that prevent improper penalty pressure during auditsMajor updates to the U.S. Tax Court that affect small business ownersHow these changes may help CRNAs dispute IRS penalties more fairlyWhy planning before an IRS issue matters more than reacting laterIf you’re a CRNA operating as an independent contractor, these updates could affect how audits, penalties, and tax disputes are handled moving forward.Chapters:00:00 - Introduction00:51 - New Tax Bills Affecting the IRS02:11 - FAIR Act: IRS Penalty Review02:31 - IRS Audits and Supervisor Approval02:59 - Written Approval for IRS Penalties03:09 - How the FAIR Act Protects Taxpayers04:30 - Tax Court Improvement Act05:01 - Subpoenas Before Tax Court Hearings05:38 - Tax Court Deadline Extensions06:47 - What 1099 CRNAs Should Do NowMusic licensed from PremiumBeat.com under License #7394047#CRNATaxes #1099CRNA #IRSAudit #IRSpenalties #TaxCourt #SelfEmployedTaxes #MoneyMovesForCRNAs