Federal Tax Updates

"Hang Up and Call Back" — NAEA President Jennifer MacMillan on This Year's Filing Season

NAEA President Jennifer MacMillan joins Roger and Annie to talk about what she's hearing from enrolled agents on the front lines this tax season — including an IRS that's putting undertrained staff on the phones, backlogs that aren't getting resolved, and one practitioner who made 25 calls on a single issue without ever getting an answer. They also dig into the bipartisan push for minimum preparer standards, NAEA's win on Oregon licensing, and why Jennifer thinks managing client expectations around social security, tips, and overtime is going to be one of the biggest challenges of the season.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet 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 (03:55) - Jennifer's Journey (05:55) - Selling a Tax Practice the Smart Way: Timing, Systems, and Profitability (08:36) - What NAEA Offers: Community Support, Web Board, and Member Resources (09:54) - IRS Service Breakdown: Phone Lines, Staffing Losses, and Backlog Reality (12:43) - Real-World IRS Call Horror Stories: POA Issues, Callbacks, and TAS Limits (15:09) - Returns & Refunds: E-File Works—But Humans and Paper Still Slow Everything (16:34) - Managing Client Expectations in a Misinformation Tax Year (20:32) - Pricing Your Expertise: Value Billing, Fee Schedules, and Getting Paid for Knowledge (26:30) - Why Community Matters + The Accounting Today Webinar Recap (28:43) - Tax season prep: new laws, IRS notices & online accounts (30:59) - DC advocacy + NAEA Fly-In (May 5–6): what to expect (32:05) - Minimum standards for paid preparers: the bipartisan push (34:50) - Why regulation matters: tax gap, weak enforcement & bad actors (41:18) - State battles: Oregon licensing surprise + Minnesota win (48:09) - Join NAEA: member benefits, volunteering & community (51:07) - Wrap-up: upcoming topics and tax-season sendoff Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Washington Watch: Filing Season Pressures and Legislative Gridlock

Roger and Annie welcome back Thad Inge to decode what's happening in Washington DC as filing season kicks off. With potential government shutdowns, billion-dollar IRS budget cuts, and 25% of IRS staff gone through early retirements, uncertainty looms over tax professionals trying to implement retroactive provisions for overtime and tips. The conversation shifts to the renewed push for minimum tax preparer standards and why getting bipartisan legislation passed might be harder than ever in an election year.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with Thad IngeLinkedIn: https://www.linkedin.com/in/thad-inge-9342155Website: https://www.vsadc.com/Chapters(00:00) - Introduction and Greetings (03:15) - Congressional Updates and Government Shutdown Concerns (09:19) - IRS Staffing and Service Levels (11:31) - Tax Legislation and Employer Guidance (16:08) - State Tax Variations and Software Updates (19:35) - IRS Budget Cuts and Inflation Reduction Act Funds (25:25) - Student Loan Offsets and Political Implications (28:31) - Potential Tax Legislation and ACA Premium Tax Credits (29:35) - Trump's Healthcare Plan and Legislative Challenges (30:10) - Tax Extenders and Bipartisan Cooperation (32:36) - Child Tax Credit and Legislative Vehicles (33:24) - The Legislative Process and Unanimous Consent (37:02) - Senator Tillis and Party Defections (40:10) - Minimum Standards for Tax Preparers (53:57) - Incentivizing E-Filing for Small Businesses (58:12) - Conclusion and Upcoming Tax Season Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

2026 Tax Season Kickoff: Big Beautiful Bill and Building a Better Firm

Roger and Annie open 2026 by reviewing the major provisions from the Big Beautiful Bill that will affect this tax season, including no tax on tips, overtime exemptions, senior deductions, and car loan interest. They shift focus to practice management essentials that often get overlooked, discussing how to set boundaries with clients, right-size your firm, avoid becoming a bottleneck, and build a sustainable business model that doesn't require working 90-hour weeks. The conversation covers everything from engagement letters and payment policies to contingency planning and post-season evaluation.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet 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) - FTU 67 (00:37) - Overview of 2026 Tax Season Changes (02:31) - Key Tax Provisions for 2025 (05:16) - No Tax on Tips and Overtime (11:59) - Senior Citizen Deduction and Car Loan Interest (15:10) - Introduction of Trump Accounts (19:55) - Practice Management and Work-Life Balance (31:12) - The Importance of Delegation and Trust (31:59) - ‌ (34:54) - Contingency Planning for Unforeseen Circumstances (42:13) - Client Engagement and Scope Management (48:15) - Post-Tax Season Evaluation (53:13) - New Legislation and Client Communication (59:17) - Final Thoughts and Encouragement Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Navigate the One Big Beautiful Bill Act for Tax Season 2026

This is a bonus episode from a recent webinar Annie and Roger did. Prepare for Tax Season 2026 and the changes brought by the One Big Beautiful Bill Act. Join Federal Tax Updates co-hosts Roger Harris and Annie Schwab for a focused look at the most impactful provisions and what they mean for your clients. They break down the latest IRS updates, highlight the questions firms are already hearing, and share practical advice to help your firm prepare for the year ahead.Roger Harris, EA - https://www.linkedin.com/in/rogerharrispbs/Annie Schwab, CPA - https://www.linkedin.com/in/annie-schwab-852418261/Learn more about Padgett: https://www.padgettadvisors.com/🔔 NASBA-approved CPE and IRS-approved CE credits are offered via Earmark  https://www.earmark.app/c/3168

Why That $350K Practice Isn't Worth What You Think

Andres Costa and Emily Goodman have acquired four accounting practices since 2021, expanding from a single location to five offices with a team of ten. They break down their acquisition strategy, from finding deals and structuring payment terms to handling employee transitions and raising client fees. Roger and Annie dig into the hard realities of practice valuations, including why a $350,000 firm might only be worth $200,000 and what sellers need to fix before they can command top dollarSponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Chapters(00:00) - Introduction and Greetings (00:52) - Meet the Special Guests: Andre and Emily (01:55) - The Importance of Acquiring Firms (02:46) - Starting the Acquisition Journey (07:11) - First Acquisition Experiences (13:16) - Evaluating Potential Firms (26:20) - Maintaining and Scaling Operations (33:22) - Structuring Acquisition Deals (33:59) - Client Retention Strategies (35:18) - Evaluating Firm Value (37:03) - Challenges with Small Firms (40:15) - Owner Financing Benefits (48:17) - Raising Client Fees (51:02) - Transitioning Clients and Employees (59:32) - Final Advice for Buyers and Sellers Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.