Show notes
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
(03:00) - Congressional Updates and Government Shutdown Concerns
(09:04) - IRS Staffing and Service Levels
(11:16) - Tax Legislation and Employer Guidance
(15:53) - State Tax Variations and Software Updates
(19:20) - IRS Budget Cuts and Inflation Reduction Act Funds
(24:23) - Student Loan Offsets and Political Implications
(27:29) - Potential Tax Legislation and ACA Premium Tax Credits
(28:33) - Trump's Healthcare Plan and Legislative Challenges
(29:08) - Tax Extenders and Bipartisan Cooperation
(31:34) - Child Tax Credit and Legislative Vehicles
(32:22) - The Legislative Process and Unanimous Consent
(36:00) - Senator Tillis and Party Defections
(39:08) - Minimum Standards for Tax Preparers
(52:55) - Incentivizing E-Filing for Small Businesses
(57:10) - Conclusion and Upcoming Tax SeasonFollow 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.